MEXICO: The Federal Government of Mexico is preparing a substantial VAT reform for 2014 with a law submitted to their House on Sept. 8. 2013 !
You know that their standard IVA (VAT) rate is 16 % - but they have a reduced rate of 11 % in the border zone to the States where a lot of companies are located.
This reduced rate will be increased to 16 % to have one IVA level nationwide.
VAT/IVA for "exports" from Mexico to the border zone companies will no longer be zero rated or exempt.
Temporary imports from the border zone or bonded warehouses into Mexico will no longer be exempt.
A number of other IVA items will be subject to change in the automobile, hospitality and tourism industry.
Substantial changes like that may need attention concerning price developments, calculation, contracts, invoicing and accounting etc.