The U.S. IRS has announced that it has agreed with the Mexican Tax Administration to renew the Qualified Maquiladora Approach Agreement. --- Renewal of Competent Authority Agreement on Maquiladoras November 16, 2020 The IRS and Mexico’s Servicio de Administración Tributaria ("SAT") have agreed to renew the Qualified Maquiladora Approach Agreement ("QMA"), a coordination arrangement most recently agreed to between the U.S. and Mexican competent authorities in 2016. The QMA allows a U.S. taxpayer to avoid double taxation on the contract manufacturing and assembly functions performed by its maquiladora if the Mexican taxpayer enters into a unilateral advance pricing agreement ("APA")...