As previously mentioned in our February 15, 2021 insight, IMMEX companies in Mexico are required to electronically submit before the Mexican Ministry of Economy, an Annual Operations Report informing of their total amount of sales and exportations for the immediately preceding tax year (in Mexico fiscal years run from January to December), no later than the last business day of May.

We strongly invite our clients with IMMEX premises in Mexico to comply with such a requirement. Failure to comply with the filing of the Annual Operations Report will lead to the suspension of the benefits of the IMMEX Program. IMMEX companies are allowed to file the Report on an extemporary basis no later than the last business day of August, so the IMMEX Program is not definitively cancelled which will imply permanently losing its benefits.

It should be noted that for those IMMEX companies that also are authorized under the PROSEC program by the Mexican government, the deadline to file their Annual Operations Report is the last business day of April rather than the last business day of May.  The aforementioned, since the deadline for PROSEC companies to file said report is in April.

Please read our February 15, 2021 insight to learn more about the Annual Operations Report and the export sales threshold compliance with respect to the 2020 fiscal year.