Similarly, the Pacific Alliance and other treaties offer reduced rates with countries like Chile and Singapore. Tax Rate Categories The IGI rates vary significantly depending on the nature of the product.
Import Taxes for Consumer Items in Mexico: Key Rates and Rules
This legal framework establishes that the primary tax applied to foreign goods is the Impuesto General de Importación (IGI), or General Import Tax. Evaluating the total landed cost is crucial; a lower product price might be offset by high tariffs and VAT, making a slightly more expensive supplier in a free trade zone more economical.
For example, industrial machinery and intermediate goods often enter under preferential rates to stimulate manufacturing. The United States–Mexico–Canada Agreement (USMCA) has largely eliminated tariffs on goods traded between the US, Canada, and Mexico, provided the items meet specific rules of origin.
Mexico Import Taxes on Consumer Items: Key Rates and Compliance
The Mexican tax system applies various duties and levies that depend on the product category, origin, and commercial value. Customs authorities in Mexico are strict regarding compliance, and errors can result in delays, fines, or seizure of the goods.
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