Executive order that temporarily increases importation tariffs

On April 22^nd, 2024, an executive order that temporarily amends several tariffs of the General Import and Export Tax Law (“Executive Order”) was published in the Official Gazette. This Executive Order will be in effect until April 23^rd, 2026.

It should be noted that this Executive Order includes maintaining the tariff benefit for Sector Promotion Programs (PROSEC) of various products relevant to the electrical, electronic, automotive and auto parts industries.

At the firm, we have a team of foreign trade and customs specialists available to address any comments or questions regarding the above.

A summary of the main aspects of the Amendment is set out in our PDF version, consult the complete news by clicking here.