Yes, there will be a Day without VAT in December: the tax reform measures will begin to be applied in 2023

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The decision would have been taken after the conciliation committee of the tax reform presented by the Colombian Government

Yes, there will be a Day without VAT in December: the tax reform measures will begin to be applied in 2023

Image of archive of one of the days of the Day without VAT in Bogotá. Photo: Colprensa – Camila Díaz

Although the Petro government had said that it would not maintain the day without VAT due to the fact that the purchase of imported products was promoted more than national ones, It seems that in the last few hours it would have been specified that the last day of discounts of the year would indeed take place in December.

After the sessions to conciliate the tax reform proposed by the national government, the representative to the Chamber for the Green Party, Katherine Miranda, announced that the last session of the Day without VAT scheduled for this December 2 would take place.

The congresswoman explained to the magazine Semana that, as specified in the article ofrepeals of the tax reform, because the Day without VAT is a law -which was established in the previous government-, the day of discounts would have the green light to be carried out because, if the project of reform, this would come into force from January 1, 2023.

The Portafolio newspaper, for its part, learned that several congressmen supported the measure, since they assured that < b>there are many merchants who already had an inventory ready for the last day of the Day without VAT before Gustavo Petro became President of Colombia.

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In dialogue with the magazine Semana , the manager of Mall & Retail, Leopoldo Vargas, He maintained that the days without VAT are a good initiative, since he assured that they have boosted the consumption of Colombian households, which, according to him, has boosted the economy in 2022.

“ The growth of wholesale and retail trade sales will grow at a rate of 19% in the year, that is, 2.5 times more than the growth of the economy, which will close according to projections at 7.7%”, noted the manager of Mall & Retail to the Bogota publication.

With the above, theDay without VAT in December would still be open, although next year's, according to national media, would be optional days. The final decision will be announced next Tuesday, November 15, the date on which the final vote on the tax reform will take place.

And what is the Day without VAT and what products can be bought?

The Day without VAT is an activity that was established in the Social Investment Law approved during the government of former President Iván Duque with the which, for three days a year, Colombians can purchase certain products without paying the Value Added Tax (VAT), which is currently at 19%.

You can also read: Taxes on churches, VAT on the sale of pets and bullfights: what fell and what remained in the tax reform

“Thus, consumers save, merchants boost their sales and the economy is reactivated,” assured the then Duque government.

The benefit applies only to three units (maximum ) of each type of good, in the categories of clothing, clothing accessories, household appliances, computers and communications equipment, sports equipment, toys and games, school supplies and goods and supplies for the agricultural sector< /b>.

It is important to note that caps vary for each category. To know them, you can enter the following link: https://www.mincit.gov.co/dia-sin-iva.