- Eliminate the consumption tax applicable to the sale of immovable property
- Add a VAT exclusion for cosmetic surgeries
- Reintroduce Article 491 of the Colombian Tax Code, which expressly indicates that VAT paid on the acquisition of fixed assets generally cannot be treated as creditable input VAT
- Establish three days per year in which there will be a VAT exemption for some products, provided the value does not exceed certain amounts
- Require the Colombian Executive Power to deliver to the Congress a report on the effect of eliminating the VAT and replacing it with an 8% national consumption tax
Source EY
