VATupdate

VAT exemption for courier and urgent shipments

Colombian Congress approves tax reform bill

The tax reform keeps the VAT exemption for courier and urgent shipments whose value does not exceed US$200 and come from countries that have signed a Free Trade Agreement (FTA) with Colombia which expressly provides that benefit. However, to apply the benefit, it is provided that the requirements of the relevant FTA should be observed and not the mere fact that the goods are coming from a given country.

Source EY

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