IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 15 Apr 2014 | Removal date: open ended

Tax or social insurance relief

The import duty exemptions that have been approved by the Ministry of Commerce, Industry and Tourism on Decree no. 2910/13 also imply the approval of tax exemptions for automobile manufacturers as the key objective of the new policy is to boost the competitiveness of the industry and revitalize the production.

The new legislation is to enter into force on 15 April 2014.

 
Update
On 31 July 2015, the Ministry of Commerce, Industry and Tourism of Colombia has adopted Decree 1567/2015 revoking Decree 2910/2013. However, the new legislation maintains the duty-free tariff approved by Decree 2910/2013 and adds new tariff lines to the list of goods exempted from import tariffs, hence the implicit tax relief measure is effectively maintained.

On 26 June 2019, the Ministry of Commerce, Industry and Tourism of Colombia has adopted Decree 1122/2019 revoking Decree 1567/2015. However, the new legislation maintains in the list of goods exempted from import duty multiple tariff lines approved by Decree 1567/2015, hence the implicit tax relief measure is effectively maintained. 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

491 Motor vehicles, trailers & semi-trailers; parts
8702 Motor vehicles for the transport of ten or more persons, including the driver.
870210 With compressionignition internal combustion piston engine (diesel or semidiesel)
870290 Other
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc
870333 Of a cylinder capacity exceeding 2,500 cc

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