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EXECUTIVE ORDER MODIFYING THE ORIGINAL EXECUTIVE ORDER ESTABLISHING THE TOYS IMPORT QUOTA

26/03/2010
Contact:
Turenna Ramírez-Ortiz
tramirez@sanchezdevanny.com
Ana Gabriela Olmeda de Alejandro
ago@sanchezdevanny.com
Joely Villalobos-Manzur
jvillalobos@sanchezdevanny.com
Eduardo Sotelo-Cauduro
esotelo@sanchezdevanny.com

EXECUTIVE ORDER MODIFYING THE ORIGINAL EXECUTIVE ORDER ESTABLISHING THE TOYS IMPORT QUOTA

On March 26, 2010, the "Executive order modifying the Original Executive Order establishing the toys import quota" (the Executive Order), was published in the Official Gazette, effective twenty days after publication.

In this Executive Order, sections I and III of Article Fourth of the Executive Order establishing the toys import quota are being modified as follows:

  • An annual USD amount equivalent to the average revenue per domestic toy production of the two previous years will be assigned for manufacturing companies. The maximum amount to be allocated per company will be 60 million dollars;
  • An annual USD amount equivalent to 100% of the annual average of estimated revenue for toy production in the first three years of the investment project’s operation, up to a maximum of 60 million dollars will be assigned for manufacturing companies or legal entities with an investment commitment letter to manufacture toys in the national territory (Article III, Section III).

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Sanchez-DeVanny Eseverri International Trade and Customs practice group, has broad experience in dealing with these modifications and can gladly assist your company’s interests.