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Colombian government extends clothing import tax for two years



In order to protect Colombia’s garment industry from unfair competition, the Colombian government announced that it will extend the clothing import tax law for two years. During the Management Dialogue of the M…

In order to protect Colombia’s garment industry from unfair competition, the Colombian government announced that it will extend the clothing import tax law for two years.

During the Management Dialogue of the Ministry of Commerce, President Manuel Santos announced that the import tax measures implemented under Decree 074 will continue.

Tariff Law Decree No. 074 has been implemented since March 1, 2013, imposing a unified tariff of US$5/kg on all textiles and clothing imported into the country, and reducing the import tax from 15% to 10%.

President Santos said the new tariffs, introduced a year ago, protect the domestic garment industry from unfair competition. This tariff has had a positive impact on apparel production.

President Santos said that the government hopes to continue this measure, which will not affect those imports at actual prices, but will hurt those imports at artificially low prices or through smuggling.

The Deputy Minister of Enterprise Development of Colombia introduced the extension of import tax measures to protect the scope of the local garment industry. The value limit for clothing will be $10/kg, and all clothing below value will continue to pay the current mixed tariff of 10% plus $5/kg. Those garments priced above $10 will be subject to a 10% tariff plus $5/kg. In the past, a uniform tax was imposed on all clothing, and imports of some products not produced in Colombia were not allowed because these products were not available to consumers at competitive prices.

This new Colombian measure will allow the import of products that comply with official World Trade Organization trade tariff levels, for example, effective tariffs should not exceed 40%.

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Author: clsrich

 
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