What is “NICO”
The Commercial Identification Number (NICO) is a new project of the General Import and Export Duty Law (LIGIE) as part of the modernization of the Mexican Customs Tariff Rate. Which consists of a fifth pair of digits in addition to the eight that conforms to the Mexican Customs Tariff rate.
The current coding for product through Customs Tariff rate is composed the following way:
Same classification for member countries of the World Customs Organization (WCO), which are binding between the Origin / Seller country and the Destination / Buyer country
- 2 digits for the chapter
- 2 digits for the product heading
- 2 digits for the product sub-item
These last two digits give the tariff regulations and form the basis for the information generation on the trade balance of goods from INEGI and BANXICO.
- 2 digits for the tariff item of the product
The NICO will be part of the tariff fraction to give the variety of the product to the authority, by adding 2 digits to the fraction.
For example, cotton shirts 6106.10.02.01
61 – Garments and accessories …
06 – Shirts, blouses …
10 – Cotton
02 – Cotton …
01 – Sports shirts, for women
02 – Sports shirts, for men
For the authority the objective of this project is to facilitate the identification of the merchandise and to have a greater precision in the statistical information of foreign trade, in addition to compacting the current TIGIE 2012 into fewer fractions, to soon 41% of consolidated fractions.
In the case of the aforementioned example, the new compact TIGIE in a single fraction (6106.10.02) four tariff fractions the TIGIE 2012, and at the same time establishes NICO to differentiate each one of the goods. Compaction maintains the unit of measure and the tariff of the fractions.
The projects in chapters 03, 16, 29, 38, 60, 61, 62, 64, 72, 73 and 85 are the ones that have undergone changes.
As part of these changes, the modification to the current TIGIE and final revisions, chapters 17, 84 and 87, as well as 98, will be updated.
In the next few days Ventus Global Logistics will provide you with the information of your fractions that will undergo changes, please contact your Account Executive to have more information in this regard.