Member Article

On March 31, 2006, the Treasury Department published in the Federal Official Gazette the "General Foreign Trade Rules for 2006" (GFTR), intended to help taxpayers in the application of the law. While the GFTR may give taxpayers rights, they may not establish obligations different from those contained in the Mexican Constitution or in laws and regulations. The rules in the GFTR will enter into force from April 1, 2006 through March 31, 2007, with the exception of the following: a) Some annexes of the GFTR for the years 2002, 2003, 2004 and 2005 will still be valid until new annexes are published. b) Rules 2.3.3, 2.3.4, 2.4.5, 2.4.10, 2.4.12, 2.4.13, 2.7.7, 2.6.23, 2.10.5 to 2.10.7, 2.15.2, 3.2.1, 3.6.14, 3.6.23, 3.6.27 to 3.6.33, 3.7.18 and annexes 1, 22 and 29 have a specified date of entry into force set out in the transitional articles. We will prepare a special publication analyzing in greater detail the implications of the GFTR for the year 2006. Lawyers in the Trade and Customs Practice Group of the firm would be glad to assist you in further clarification of this or any other issue: Gerardo Hernández ([email protected]), Sergio Barajas ([email protected]), José Luis Álvarez ([email protected]), Turenna Ramírez ([email protected]), and Luis Fernando Martínez ([email protected]) (Monterrey Office).