Sep 14 2021
This week the Colombian Government confirmed the completion of the three days of the Day without VAT before the end of 2021. As institutionalized in the text of the country’s new tax reform, each year there will be three days of controlled and specific exemption of the Value Added Tax, which will begin this year.
The official date has not yet been confirmed, however, the Minister of Finance and former Minister of Industry and Commerce, José Manuel Restrepo, confirmed that the three days will be held in October and November.
The ministry and the trade unions await the presidential sanction to be able to take action on the matter and establish official dates that allow merchants the highest possible sales, without affecting the end of the year trade. To date it is unknown if the sessions will be only virtual or physical and virtual.
Within the category of fashion and wardrobe, The exemption applies only to clothing, accessories and accessories with prices below 20 UVT (36,308 Colombian pesos), that is, a total of 726,160 pesos per garment (about 188 dollars). Higher value garments do not enter the measure.
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