Colombia is allowing 636 new Aranzelian items to be acquired in foreign markets without taxes.
The measure was approved by the Andean government on January 20 of this year and will increase from 1500 to 2136 the products that can be imported into Colombia without tariffs and with deferred VAT. The decision affects all imports of capital goods (without discrimination of the sector or production process) with the exception of the automotive sector. New products include, for example: aluminum cans for transporting milk, steam generators, pumps for formica, flour machines and equipment for confectionery and pasta processing, ethylene polymer tubes for drip irrigation systems and conveyor belts, among others.
The objective is to provide more tools to local exporting companies to increase the country’s sales abroad.