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Last day to pay the VAT refund

Last day to pay the VAT refund

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The “Semana” website reminded Colombian taxpayers about the last period for VAT refund payment through the “Personal Finances” column, beginning on Thursday, November 25, to December 14, 2021.

1. New and pending payments

According to the website, 2 million Colombian households will benefit from the VAT refund program as of Thursday, November 25, withdrawing the 76,000 pesos corresponding to the sixth and last payment cycle of this year. The benefit in question will be available only until next Tuesday, December 14.

Likewise, it should be noted that families that have not claimed payments pending from previous cycles are being discarded, emphasizing that around 200,000 Colombian taxpayers will be able to approach during this period to claim the monetary transfer.

2. Expert comments

Susana Correo Borrero, director of the “Prosperidad Social” (Social Prosperity) program, commented as follows:

“For the six 2021 payment cycles, the government invested more than P912 billion. For this last cycle, 152 billion pesos were allocated for ordinary payments and close to 20 billion for accumulated payments from previous cycles that were not collected. In 2022 we will announce the news of the program”.

In this regard, the collections in question will be available at SuperGIROS points and its allied network. To facilitate beneficiaries the location of payment points, Prosperidad Social created a directory available at the following link: https://devolucioniva.prosperidadsocial.gov.co/.

3. Refund distribution

According to the distributing entity, during 2021 (up to cycle five), the departments with more VAT refund beneficiary households were: Antioquia (190,000 households), Bolivar (155,000), Cauca (105,000), Cordoba (168,000), Magdalena (99,000), Nariño (133,000), Norte de Santander (100,000), and Valle del Cauca (95,000).

On the other hand, it is also worth noting that the entity programmed the payment to 100% of the 2 million households in all cycles, complying with the available quotas of this program. This is a measure of the National Government to alleviate the impact of the tax levied on the consumption of products and services of the most vulnerable people, belonging to the Familias en Acción, Colombia Mayor, and others not belonging to any of the Government’s cash transfer programs.

Source: Semana 24/11/21

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