Colombia Introduces New Requirements for Free Zone Import Declarations
Colombia introduced a new special import declaration requirement relating to free zones, according to a Feb. 5 KPMG report. The change, which was announced Jan. 28, relates to import declarations for imports from “special permanent” or “permanent free zones” to…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Colombia’s national customs territory, the post said. The declarations must be submitted on a certain form on the last calendar day of each month, KPMG said, and must contain certain information, including the use of “Code 99999999999 as a subheading, regardless of whether the merchandise may correspond to different subheadings, provided that they all have the same value added tax (VAT) rate.” The declarations must also be submitted through the “electronic computer services” of Colombia’s tax and customs authority, KPMG said, and free zone operators must submit information about the movement of goods “that have actually left the free zone.” The importer must pay customs duties within the first five days of the following month “in which the presentation and acceptance of the special import declaration was made,” KPMG said.