The Ministry of Finance released a draft of a decree which establishes what would be the dyou went without VAT by 2022.
(See: Day without VAT of 2022 would have less effectiveness in inflation).
According to the document, the discount days would be carried out on March 11, June 17 and December 2. Every day Friday.
“With the days without VAT, the aim is to continue with the reactivation of the economy, through the promotion of sales to the different economic sectors of the country that commercialize goods taxed with the sales tax (VAT)“, reads in the draft, according to the newspaper EL TIEMPO.
The document explains that the collection of VAT sales tax for all bimonthly periods of the last 5 years was taken into account to decide which days of the day this year would be.
(See: Days without VAT: A boost for e-commerce in Colombia).
“The foregoing, in order to determine the month, or months, that allows the purpose of the rule to be fulfilled, that is, to contribute to the process of reactivating the country’s economy.“, it was added.
Last January 22, the President of the Republic, Iván Duque, announced that the first day without VAT will be March 11.
About that, the decree says that he must go that month for the “effect of Holy Week in the month of April, when, historically, there is evidence of an increase in the tourism sector and greater demand in others related to this“.
(See: Total balance of the three days without VAT in Colombia).
about 17 June, the argument is that in the sixth month of the year “there is evidence of less dynamism in VAT collection compared to other months“.
And about December, make sure it’s “due to the peculiarities of the year-end season, driven by the fact that the population in general has greater purchasing power by receiving additional income to their salary, such as the service premium or other benefits“.
The days without VAT began to be carried out in 2020. Its objective, according to the Government, is to boost the economy and help reactivate it.
In 2021, the days were legally defined within the tax reform or Social Investment Law.
(See: WTO and World Bank give keys to trade).
Last year, according to Dian figures, the three days of the day without VAT exceeded $31.42 billion in sales.
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