Annual Report of IMMEX and PROSEC Programs
Filing the Annual Report for IMMEX and PROSEC programs can be a complex and detailed process, but you don’t have to face it alone. At TradeWorks we are here to help you meet your obligations and ensure that your IMMEX and PROSEC programs continue to provide the necessary benefits.
What is the importance of submitting the Annual Report of IMMEX and PROSEC Programs?
Compliance with companies’ obligations under the IMMEX and PROSEC Programs is essential to maintaining the benefits associated with these programs. Among these obligations, the submission of the Annual Report stands out, a vital requirement that goes beyond a mere formality. The Ministry of Economy (SE) establishes that companies participating in these programs must submit a detailed report of their operations under the programs, which must be done electronically and within the stipulated deadlines: by the last business day of April for PROSEC and May for IMMEX. Meeting these deadlines is essential to avoid suspension or cancellation of the programs, which could have serious operational and financial repercussions.
Consequences of not submitting the Annual Report of IMMEX and PROSEC Programs
Failure to submit the IMMEX Program Annual Report can have severe consequences. If the report is not submitted within the stipulated deadline, the benefit of temporarily importing authorized goods under the program will be suspended. Furthermore, if the report is not submitted or does not meet the requirements by the last business day of August, the IMMEX Program will be permanently canceled as of September 1 of the same year.
The situation is similar for the PROSEC Program. If the annual report is not submitted on time, the program will temporarily lose its validity, and the associated benefits will not be available. If the report is not submitted by the last business day of June, the PROSEC Program will permanently lose its validity. These sanctions underscore the importance of complying with the deadlines and requirements established by the Ministry of Economy.
Contact Tradeworks for efficient management of the IMMEX and PROSEC Programs Annual Report.
Filing the Annual Report for IMMEX and PROSEC Programs can be a complex and detailed process, but you don’t have to face it alone. At Tradeworks, we’re here to help you meet your obligations and ensure that your IMMEX and PROSEC programs continue to provide you with the necessary benefits.
Don’t let failure to file your Annual Report put your operations at risk. We’re here to help you maintain the security and efficiency of your international business transactions. Contact us now and ensure the continuity of your benefits with the peace of mind of knowing you’re in the hands of experts.