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Covid-19: Extension VAT exemption & faster VAT refunds

Colombia’s Ministry of Health has extended the health emergency declaration for COVID-19 until 30 April 2022. With the extension, several emergency tax measures are extended accordingly. These include the following:

  • Temporary VAT exemption on hotel and tourism services and services provided by establishments selling food and beverages in the framework of a franchise agreement;
  • Temporary VAT exemption on raw materials for the production of medicines and the temporary VAT zero rate on the import and sale of specified medical supplies and devices;
  • Abbreviated procedures for the automatic refund of income tax and VAT balances, which includes that for taxpayers not considered high-risk, income tax and VAT refunds will be provided within 15 days of request (normally takes up to 50 days), with the possibility of expedited refunds for taxpayers considered high-risk, subject to additional review and processing

Source Orbitax

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