Taxable customs base
The taxable basis of customs taxes shall include freight in addition to the customs value of the imported goods.
Free trade zone
Special Economic Development Zones will be replaced by Free Trade Zones. These will be a delimited geographic area within the national territory that is subject to special regimes regarding foreign trade, customs, tax and financial matters where industrial, logistics, commercial, and similar activities are carried out.
Under the Bill, Free Trade Zones will have the following tax regime:
- Transactions occurring in Free Trade Zones will be exempt from VAT, Remittance Tax, taxes on foreign trade and any other that may be created, even if express exemption is required. Provincial and municipal taxes may also be exempt.
- A refund of VAT may be requested on purchases from suppliers located in the national territory.
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Source EY
