ANNOUNCEMENT 13 Feb 2018
The Colombian government established a 0% import duty on multiple capital goods leading to the reduction of import tariffs on 162 ten-digits tariff lines.
NUMBER OF INTERVENTIONS
Ministry of Commerce, Industry and Tourism of Colombia. Ministerio de Comercio, Industria y Turismo. Decreto 272 de 13 de febrero de 2018. Available at: http://www.mincit.gov.co/loader.php?lServicio=Documentos&lFuncion=verPdf&id=5238&name=DECRETO_272_DEL_13_FEBRERO_DE_2018_-modificacion_del_Decreto_1343.pdf
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 162 HS Codes were affected as previously tariffs set on these products ranged from 0.75% to 25%. 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.
List of raw materials and capital goods not produced locally exempted of import tariffs
On August 15, 2013, the Colombian Ministry of Trade, Industry and Tourism issued Decree 1755/2013 establishing a list of raw materials and capital goods not produced locally exempted temporarily of import tariffs. The tariff lines included in the list enjoy a 0% import duty for a two-year period starting on August 15, 2013.
However, on August 14, 2015, the Colombian Ministry of Trade, Industry and Tourism issued Decree 1625/2015 launching again a similar list with products enjoying a 0% import duty for a two-year period starting on August 16, 2015.
Since then, the list has been updated on several occasions (please, see related state acts).