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Agreement by which the Commercial Identification Numbers are disclosed (NICO)

On August 22nd, 2022, the Ministry of Economy published in the DOF the agreement by which the Commercial Identification Numbers (NICO) and their correlation tables corresponding to the Law of General Import Taxes and Export published in the same body on June 7th of the present, which implements the "Seventh Amendment to the texts of the Nomenclature of the Harmonized System of Description and Codification of Goods".


The agreement enters into force on the same day that the Law of General Import and Export Taxes, that is, ten business days following the day on which the SAT determines that the systems used in trade operations abroad are ready to operate in accordance with the Law that is issued, which must happen within 180 days following its publication. For this purpose, with the entry into force of this law, the Law on General Import and Export Taxes published in the DOF on July 1st, 2020 will be repealed.


Example:



Goals:

• Facilitate the identification of goods.

• Greater precision in the statistical information on foreign trade.


Benefits:

• Alignment according to the most modern classification system, used by countries such as the US, Canada and China.

• More agile merchandise identification without modifying the tariff rate.


For more information go to the following link:




We inform you that this information provides general information based on the current laws and regulations, and in case of an individual report, be sure to receive advice from an expert before handling it.

Reproduction, partial or full distribution without the approval of Doowoo Accounting S de RL de CV is prohibited.


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