ANNOUNCEMENT 26 Jun 2019
The Colombian Government has modified the Scheme for the Promotion of the Automotive Industry (i.e. PROFIA by its Spanish acronym) leading to changes in the list of automotive parts subject to duty-free import tariffs.
NUMBER OF INTERVENTIONS
Ministry of Commerce, Industry and Tourism of Colombia. Decreto 1122 de 26 de junio de 2019. Available at: https://dapre.presidencia.gov.co/normativa/normativa/DECRETO%201122%20DEL%2026%20DE%20JUNIO%20DE%202019.pdf
On 26 June 2019, the Ministry of Commerce, Industry and Tourism of Colombia has adopted Decree 1122/2019 modifying the Scheme for the Promotion of the Automotive Industry. One of the key changes introduced has been the elimination of 19 tariff lines from the list of auto parts that can apply for the duty exemptions described in the scheme. As a result, the import duties on 10 products have increased from 0% to values ranging between 0.5% and 7.78% according to the information of the WTO tariff download facility.
The new Decree has entered into force on 26 June 2019.