On 4 August 2021, Colombia has issued Law 2133, which is aimed at creating incentives in the development of naval activities in Colombia that keep the maritime economy of the country related.
The income from the international maritime transport service, which they carry out ships or naval artifacts registered in Colombia, will be taxed at the 2% income tax rate.
This recent statute will directly benefit 47 municipalities on the Colombian Caribbean and Pacific Coasts with the generation of 20 thousand jobs during the first three years of its implementation. This, taking into account that, since a vessel is registered in the country, it must have 80% Colombian personnel, benefiting 15,022 national sailors. In addition, it will allow the development of a national merchant fleet of a strategic nature. Similarly, it aims to simplify the flag procedures for Colombian ships “that fly the national flag in the seas of the world.” This represents paying less freight to foreign shipping companies, which move 97.6% of imports and 98.8% of exports from the country.
Among other benefits of this Law, it is also found to allow the banks the naval mortgage and the incentive in the activity by means of the VAT exemption.
