Many countries tried to stimulate their ailing economies during the Covid lockdowns of early 2020, but few went as far as Colombia. The Colombian government designated days when consumers could buy certain goods without paying Value Added Tax (VAT).
VAT increases the price of goods much like its United States equivalent, sales tax. Unlike sales tax, VAT gets charged at every step of production and is included in an item’s sticker price.
Source: fonoa.com
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