Share your requirement with usThrough Bulletin 46, the Ministry of Finance announced the filing of the report for the first debate of the tax reform bill …
March 11, 2022 first VAT-free day
Iván Duque, President of the Republic, announced that March 11, 2022 will be the first VAT-free day of this year. “Today I also want to convey a message: the first VAT-free Day of this year will be on Friday, March 11, so that we can liquidate inventories, help trade, we can help our economy also contain inflationary effects in the first quarter of the year.”
It was also added “that is why we also want to dynamize the consumption capacity of the citizens”.
Last year the VAT-free Days were held on October 28, November 19 and December 3, and allowed sales of around 30 billion pesos, according to the Ministry of Commerce, Industry and Tourism.
According to the Dian, in the month of December the collection was $13.3 billion. For said month, sales, income withholding and the tax on financial movements were the items that contributed the most to the collection effort and such behavior was driven by the VAT-free days and the fight against tax evasion.
Source: Actualize
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