Mexicans increase import tax on shoes
05.09.2014 2703

Mexicans increase import tax on shoes

The country's finance ministry said the tax on imported footwear could rise to 30%. This measure is part of the government's program to combat unfair competition in retail. In recent years, Mexico has been open to imports, but the authorities now argue that this has led to "unreasonably low prices" for local products and has led to unfair competition in the domestic market. In an interview, Lopez Garcia, President of CICEG, commented: “We must stop those who practice 'dumping' and tax evasion by importing footwear into the country with prices lower than production costs. This causes irreparable damage to the country's domestic shoe industry. " The new taxes will come into force in September-October this year. Recall that according to the latest report of the World Footwear Yearbook, over the past year, Mexico's export volumes increased by 14% and amounted to 592 million US dollars. The country exported about 600 million pairs of shoes to the markets of the United States, Panama and Japan. As for imports, it grew by 000% due to supplies from China.

The country's finance ministry said the tax on imported footwear could rise to 30%. This measure is part of a government program to combat unfair competition in ...

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