ANNOUNCED AS TEMPORARYNo
On February 13, 2018, the Ministry of Commerce, Industry, and Tourism of Colombia issued Resolution 272 announcing the elimination of import tariffs on multiple raw materials and capital goods not produced in the country. Although the list of products included in the new legislation accounted for 3299 ten-digits tariff lines, just 772 HS Codes were affected as previously tariffs set on these products ranged from 0.75% to 8%. On the contrary, according to the WTO database, the rest of the tariff lines covered by this legislation already enjoyed a 0% import duty.
The list of products affected by this Resolution will be revised annually.
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