On September 16, 2021, Marca.com published a report on VAT-Free Days 2021.
1. VAT free days
Colombian President, Iván Duque, has announced new dates for people to purchase without paying VAT. The measure will take place on three days during the rest of the year. The dates chosen to exonerate the tax on purchases will be one day per month in the remaining months of 2021. The activity will take place on October 28, November 19, and December 3.
2. Purpose of the VAT-Free days
According to the website, this is a way to stimulate trade since many products are taxed at 19% VAT. For example, a TV normally costing $1,000,000 would be $810,000 pesos if purchased on these days. People are more willing to wait to buy expensive items on a VAT-free day.
3. Possibility of cash payment
The great novelty for these VAT-free dates regarding those during 2020 is that cash payment will be allowed. It is also possible to pay with credit and debit cards.
4. Items convered
Among the classified categories are household appliances, technology items, toys, clothing, school supplies, agricultural supplies, and many others. This information is expected to be expanded soon.
Source: Marca.com 17/09/21
