ANNOUNCED AS TEMPORARYNo
On 13 November 2019, the Colombian government approved Decree 2051/2019 which lowered the import tariffs applicable to vehicles with gas engines and eliminated the import tariffs for electric engines.
For the case of motor vehicles with gas engines, the applicable import tariff was reduced from 15%-35% to 5%.
For the case of motor vehicles with electric engines, the applicable import tariff was indefinitely eliminated (0%) from previous levels of 35%. This represents the factual elimination of import tariffs for electric vehicles.
According to the Colombia Vice-minister of Foreign Trade, “these types of decisions seek to reduce polluting emissions of CO2 and are in line with the Paris Agreement, which aims to reduce greenhouse gas emissions by 20%.”
The new import tariffs entered in force on 28 November 2019, fifteen days after the publication of the measure.
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