Mexico’s Chamber of Deputies has approved a reform to the Customs Law that would give authorities broader powers to review declared import values and identify potential undervaluation. The bill has been sent to the Senate and is not yet in force.
One of the main changes affects cases where the declared value of imported goods differs from the transaction value of identical or similar merchandise. Customs authorities would have greater scope to open verification procedures and apply precautionary measures under the revised framework.
The reform would also allow importers, in certain cases, to replace a precautionary seizure with a cash deposit or customs guarantee covering the difference in duties and any applicable countervailing charges.
Another provision lowers from 50% to 20% the value-difference threshold used in certain presumptions of customs violations involving regimes where duties are deferred.
For hydrocarbons and petroleum products, the proposal introduces penalties ranging from 50% to 100% of the commercial value of the goods for selected failures involving customs documentation, reporting, and declarations.
For importers and foreign trade companies, the changes could make accurate customs valuation, origin records, and supporting documentation even more important during clearance.
Source: XEU
