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VAT-free days New products and payment methods

VAT-free days: New products and payment methods

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On August 25, 2021, it was published on the “Portafolio” website about the days without VAT and the new products approved for the same entity.

1. Vat-Free days as a reactivation of the economy

Tax reform 2.0 proposed the creation of three VAT-free days per year in the country as a measure to reactivate the economy.

2. Modification to the Vat-Free days

When the creation of the VAT-free days was approved, it was agreed that these will have some small modifications, consisting of: purchases can be made, not only with cards but also in cash. In addition, an electronic invoice will have to be issued to validate the exemption.

3. New items to be traded

Items were already added to be sold without VAT during those days, such as glasses in general, stoves and household appliances that use any type of gas and solar energy, handles, baseball, softball, and boxing gloves.

4. Those included in the Vat-Free days

It should be recalled that the articles already contemplated as those VAT-free days were the following:

  • Clothing whose sale price per unit is equal to or less than 20 UVT (Unidad de Valor Tributario – Taxable Value Unit).
  • Clothing accessories whose sale price per unit is equal to or less than 20 UVT.
  • Household appliances, computers, and communications equipment whose sale price per unit is equal to or less than 80 UVT.
  • 4 Sports equipment whose sale price per unit is equal to or less than 80 UVT.
  • Toys and games whose sale price per unit is equal to or less than 10 UVT. This category does not include party articles, carnival, nor recreational articles, computer programs, and software.
  • School supplies whose sale price per unit is equal to or less than 5 UVT.
  • Goods and inputs for the agricultural sector whose sale price per unit is equal to or less than 80 UVT.
Source: Portafolio 26/08/21

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