The law establishes three days per year in which a value-added tax (VAT) exemption applies to some products (e.g., garments and accessories, home appliances, toys, and sports goods), provided the value does not exceed certain amounts. Purchases paid with cash also will qualify for the VAT exemption.
The law eliminates the VAT exclusion for imports of goods with a value of US $200 or less that enter Colombia through postal services. The exclusion, however, continues for imports from countries with which Colombia has signed a free trade agreement, by virtue of which the non-collection of VAT has been expressly agreed. For imports from countries with a free trade agreement with Colombia, the exclusion will not apply if the imports are for commercial purposes.
Additionally, the law establishes a VAT exemption for hoteling and tourism activities that will apply until December 31, 2022.
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