Managing Automatic Import Notices – Currency Equivalence
At Soltegra Grupo Consultor, we understand the importance of maximizing your international trade potential. Efficiency in this realm not only expedites the flow of goods across borders but can also have a significant impact on your profitability.
Consider this scenario: Your company has received a shipment of steel products that require Automatic Import Notices for Steel Products (AAIPS) to comply with Mexican import regulations and facilitate customs clearance. However, a challenge arises as one AAIPS needs to be reissued due to an error. Here are two critical points to note:
- We are in the month of September.
- The initial five AAIPS were processed using the August currency equivalence to ensure early documentation. However, when the error was identified, the new AAIPS had to be managed, and by then, the Official Gazette of the Federation (DOF) had already published the currency equivalence corresponding to September. This raises the question: With which currency equivalence should we proceed to request the new AAIPS?
This raises the question: With which currency equivalence should we proceed to request the new AAIPS?
Key: Compliance with Regulations
The answer to this question is not only a matter of convenience but also a matter of compliance with foreign trade regulations. According to Rule 2.2.26 (General Rules and Criteria for Foreign Trade of the Ministry of Economy), Automatic Import Notices for steel products must comply with the “value in dollars of the imported goods.” This is achieved by converting the original currency (in this case, euros) into dollars using the monthly currency equivalence published by the Bank of Mexico.
Making the Right Decision
When your company faces the need to reissue an AAIPS, the legal response is straightforward: the new AAIPS should be processed with the most recent currency equivalence, which in this case is the one dated 06/09/2023. This ensures that the declared value in dollars in the new AAIPS is accurate and in compliance with current regulations.
However, it is essential to emphasize that the other AAIPS that have already been processed and are based on the August currency equivalence (07/08/2023) should not be altered. These AAIPS remain valid and meet the necessary legal requirements.
A Comprehensive Service
At Soltegra Grupo Consultor, our mission is to provide your company with the precise guidance required for success in international trade. This extends beyond regulatory compliance, such as the case of AAIPS, to the optimization of all aspects related to foreign trade.
If you have any questions or need personalized advice on international trade, do not hesitate to get in touch with Soltegra Grupo Consultor. We are here to be your partner in achieving international success for your company.