Colombia enacted a new tax reform that, among other things, establishing a future 3 day VAT Holiday. According to the provisions of Law 2010/2019, the government will allow retailers to sell clothes, electronics, sports equipment, toys and school supplies VAT free when purchased by final consumers using a credit card and where the sale is documented with an electronic invoice. The law also establishes a number of thresholds and limitations that refine the circumstances under which a qualifying item may be sold VAT free. The government will announce, via regulation, the specific days during which this VAT Holiday will apply.
Colombia Enacts VAT Holiday
Ramón Frias
March 23, 2020
Sign up for Email Updates
Stay up to date with the latest tax and compliance updates that may impact your business.
Author
Ramón Frias
Ramon is a Tax Counsel on the Regulatory Analysis team at Sovos. He is licensed to practice law in the Dominican Republic and is a member of the Dominican Bar Association. He has a Certificate Degree from Harvard University as well as a J.D. from the Universidad Autonoma de Santo Domingo. Ramon has written a number of essays about tax administration and has won the first prize in the international essays contest sponsored by the Inter American Center of Tax Administrations (CIAT). Prior to joining Sovos, Ramon worked for more than 10 years in the Department of Revenue of the Dominican Republic where he served as Deputy Director. He is proficient in French and Spanish.
Share This Post