Resumption of VAT collection

7 January, 2022
Resumption of VAT collection

The “HoyDiariodelMagdalena” website reminded Colombian taxpayers that the 19% Value Added Tax (VAT) and 8% excise tax will be collected from those non-registered restaurants under the simple taxation regime as of 2022.

1. Comments from the Industry

Ms. Paola Narváez Uribe, executive director of the Colombian Association of the Gastronomic Industry (Acodres), confirmed the resumption of the tax collection, stating that the collection of both taxes was reactivated as from January 1.

Narvaez also emphasized the urgency of approving the use of a competent tax tool to help the sector cushion the impact of food inflation.

2. Progressive tariff project

On the other hand, Diego Mauricio Arana Nuñez, president of the guild’s National Board of Directors, stated that there is still a latent desire to help taxpayers. In this regard, he mentioned the proposal to implement a progressive staggered tax rate, applying 4% in 2022, 5% in 2023, and 6% in 2024 within the formal management channels.

Source: Hoy Dia Río del Magdalena 07/01/22