Mexico - Electronic Reporting of Customs Information Mandatory from March 1

FOR IMMEDIATE RELEASE
Sunnyvale, California, United States of America (Free-Press-Release.com) February 23, 2012 -- (Sunnyvale, CA) – February 10, 2012 - Recent modifications to Mexico’s foreign trade rules make it mandatory for export and import businesses to file information regarding customs transactions electronically.

Starting March 1, 2012, export and import businesses in Mexico will not have the option of manually submitting customs information using paper forms.

Mexico has very detailed import/export declaration forms and is very strict about customs documentation and small mistakes can often result in excessive fines. Also, lack of prior notification of procedural changes and inconsistent interpretation of trade requirements at different ports of entry is a cause of major concern to exporters.

Customs Information Required for Electronic Reporting

The information that businesses need to include in the reporting system are:

* Customs documentation - date and place of issue
* Name and address of the receiver of the merchandise
* Details of the recipient and vendor
* The taxpayer identification number of the voucher issuer
* Identification number of the document
* Commercial description of the merchandise in detail
* The online reporting system has been open for importers and exporters since January 16, 2012.

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