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Commercial Off the Shelf (COTS) software solution eQuip! supports IMMEX (Maquiladora) companies to be Anexo 24 compliant

IMMEX is a program designed by the Mexico government to increase employment by providing incentives for U.S. manufacturing companies to set up their operations in Mexico. Mexico’s IMMEX program is an instrument to temporarily import goods and services that will be manufactured, transformed or repaired, and then re-exported without payment of taxes, compensatory quotas, and other specific benefits.

Seeking lower cost manufacturing alternatives, U.S. companies sent their raw materials and equipment on a temporary duty-free basis to Mexico for manufacture or assembly and then re-exported back to the U.S.

In order to qualify for the IMMEX benefits, IMMEX operations (Maquiladora) need to be compliant to strict inventory control laws as defined in “Anexo 24”.

According to Mexico law “Anexo 24,” inventory controls must be implemented to track the imported goods and materials to ensure they are re-exported within the appropriate timeframe of six, 12 or 18 months depending on the customs regime being applied.

According to “Anexo 24”, IMMEX operations (Maquiladora) also need to set up audit procedures.

Set up an audit plan for the transactions and periodically reconcile operations and inventory balances against the government information to identify if there are any risks associated with regulatory compliance. If you find an area of weakness, develop an improvement plan.

Find out how eQuip! can meet all the Anexo 24 requirements on Inventory Control

 

The eQuip! Enterprise Asset Management software can support all the inventory control requirements in “Anexo 24”:

  • Import data directly from Pedimento (Customer Entry Document)
  • Maintain strict records relating to the import and consumption of raw materials
  • Categorize the raw materials and track their use against the authorized time limit – 6, 12, 18 months or longer
  • Maintain strict records relating to the import and consumption of raw materials
  • Track the consignment of equipment and machinery and their maintenance and calibration record. Attach relevant document to these equipment and machinery
  • Generate Anexo 24 required reports on temporary imports: Temporary Imported Goods Received, Temporary Imported Goods Returned, Balances of Temporary Imported Goods, Temporary Materials Used.
  • Record all required taxpayer information for each IMMEX operation: e.g. Corporate Name, Key RFC, IMMEX Number, Address
  • Support annual physical inventory audits with eQuip! Mobile

 

Find out how eQuip! can meet all the Anexo 24 requirements on Inventory Control

 


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