ANNOUNCEMENT 29 Jun 2017

The Ministry of Commerce, Industry and Tourism of Colombia established reduced import duties for a certain quota of hybrid and electric cars.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Ministry of Commerce, Industry and Tourism of Colombia. Ministerio de Comercio, Industria y Turismo. Decreto 1116 de 29 de junio de 2017. Available at: http://www.mincit.gov.co/loader.php?lServicio=Documentos&lFuncion=verPdf&id=5137&name=DECRETO_1116_DEL_29_DE_JUNIO_DE_2017.pdf

Ministry of Commerce, Industry and Tourism of Colombia. Ministerio de Comercio, Industria y Turismo. Decreto 2153 de 26 de diciembre de 2016. Available at: http://www.mincit.gov.co/loader.php?lServicio=Documentos&lFuncion=verPdf&id=5037&name=Decreto_2153_de_2016.pdf

Inception date: 07 Jul 2017 | Removal date: 31 Dec 2027
Still in force

Import tariff quota

On June 29, 2017, the Ministry of Commerce, Industry and Tourism of Colombia issued Resolution 1116 reducing the import duties for a certain quota on hybrid and electric cars (HS Codes 8702.40.90.10; 8702.40.90.90, 8703.80.10.00; 8703.80.90.00; 8704.90.51.00 and 8704.90.59.00).

The new import duties quotas for hybrid cars were set at 5% as it follows:

  • 1,500 units for the years 2017, 2018 and 2019;
  • 2,300 units for the years 2020, 2021 and 2022;
  • 3,000 units for the years 2023, 2024, 2025, 2026 and 2027.

The new import duties quotas for electric cars were set at 0% as it follows:

  • 1,500 units for the years 2017, 2018 and 2019;
  • 2,300 units for the years 2020, 2021 and 2022;
  • 3,000 units for the years 2023, 2024, 2025, 2026 and 2027.

The duty outside the quota for both, hybrid and electric cars, is set to 35% FOB value.

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AFFECTED PRODUCTS