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Colombia Forum

2 years ago

New Reforma Tributaria.

2 years ago
The new Reforma Tributaria was voted on today and passed by the Senado and Camera de Representanres and now awaits the approval of President Duque to become law. There were a couple of interesting adjustments regarding IVA. One is that you will be able to make online purchases of up to two hundred dollars US from any country with which Colombia has a trade agrreement. The second is that in the next "three days without IVA" purchasers can pay in cash. In the past they had to pay with credit card making the purchases easy to track by DIAN. Credit purchases are one criteria used by DIAN to determine liability for Declaracion de la Renta so this is an interesting concession.

Among other things the new reforma includes good news for estrato one, two and three students: free tuition at public institutions of higher education.

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