On 21 May 2020, the Colombian Ministry of Finance and Public Credit has published Decree 682 through which it establishes some measures on the consumption tax in the sale of food and beverages, as well as on the sales tax on the leasing of commercial premises and value-added tax (VAT) exemption for three days, in response to COVID-19 pandemic. The main measures are:
- The Decree reduces the national consumption tax rates applicable to bars and restaurants from 8% to 0% applicable until 31 December 2020;
- The decree specifies that the dates on which three days without VAT will be in force are: 19 June, 3 July, and 19 July of 2020 as a measure to encourage the national economy. The exemption will apply to Costume accessories, Home appliances, Sports elements, Lockerroom, School Supplies, Toys and Games, Goods and supplies for the agricultural sector;
- The monthly rental fees caused and invoiced until 31 July 2020 will be excluded from the sales tax.
To apply for this benefit, certain formal and substantial requirements established in Decree 682 must be met. The Decree is applicable from the day of its publication
