Mexican VAT authorities have not established a VAT threshold, as such before performing an activity falling under Mexico VAT tax regulations registration for VAT purposes is required regardless of value of goods and services involved. However, it is important to remember that only entities with permanent establishments in Mexico may register – at the same time they are expected to fulfil all tax obligations resulting from Mexican tax law. Nevertheless, Mexico will not be recognized as your tax domicile, unless it is a centre of your professional activities or your income from Mexican sources exceeds 50% of the total in the calendar year. Likewise, foreign residents will be expected to fulfil their tax obligations should they establish home in Mexico regardless of nationality. Transactions in different currencies are subject to exchange rate, source of which is the Mexican Central Bank. For entrepreneurs interested in temporary imports in Mexico it is important to remember that tax ID is required to apply for temporary import permit, which lasts up to 6 months.