Forfaiting is a valuable tool for exporters seeking to eliminate risks and guarantee cash flow in international transactions, especially in emerging markets or those with high credit risks. What is a Forfaiting Contract? Forfaiting is an international financing mechanism primarily used in foreign trade. It involves the purchase, by a bank or financial institution (the […]
The Value Added Tax (VAT) exemption for the Military Forces, as established in Article 477 of the Tax Statute and the customs concept number 100208192-107 of 2021, is not limited solely to direct purchases made by the Military Forces. This exemption can be extended to individuals who acquire goods and services on behalf of these […]
The Andean Price Band System (SAFP) is a mechanism implemented by Colombia through the Andean Community of Nations (CAN) since 1995. Its primary objective is to stabilize the import cost of certain agricultural products that exhibit significant instability in their international prices. Products Included in the SAFP The SAFP covers a variety of agricultural products, […]
Technical Analysis of the Special Economic and Social Zones (ZESE) Regime What are the Special Economic and Social Zones (ZESE)? The Special Economic and Social Zones (ZESE) is a special tax regime designed to offer preferential income tax rates and benefits on withholding tax. The primary objective of this regime is to attract both national […]
Modification of Operations from Free Trade Zones to the Rest of the World (External Markets) – Article 523 of Resolution 046 of 2019 Recently, Resolution 000097 was issued, modifying Article 523 of Resolution 046 of 2019, which relates to the requirements for operations from Free Trade Zones (FTZ) destined for the rest of the world. […]
Consortia and Temporary Unions: Global Guarantee for Foreign Trade Operations Introduction to Consortia and Temporary Unions Consortia and temporary unions are associations between two or more companies that join forces to execute a specific project or activity. These legal structures allow companies to share resources, knowledge, and risks, facilitating the execution of large infrastructure projects, […]
Technical Analysis of Pre-Arrival Import Declarations: Calculation of Times According to DIAN Calculation of Times for Pre-Arrival Declarations According to a recent statement by the National Directorate of Taxes and Customs (DIAN), the method for calculating the times for submitting a mandatory pre-arrival declaration has been clarified. Specifically, neither the day the declaration is submitted […]
Technical Analysis of ACE 072 Trade Agreement: Digital Certificates of Origin between Colombia and Argentina Implementation of Digital Certificates of Origin Starting in April 2024, the customs authorities of Colombia and Argentina have begun issuing and receiving certificates of origin in digital format. This initiative is part of the Economic Complementation Agreement No. 72 (ACE […]
Technical Analysis of Pre-Arrival Import Declarations: Exemptions Who and what types of goods are exempt from the mandatory pre-arrival import declaration? According to the current customs regime, certain situations, types of users, and modalities are exempt from the obligation to submit a pre-arrival import declaration. These exemptions are designed to facilitate and expedite the customs […]
Technical Analysis of Pre-Arrival Import Declarations: Minimum Times What is the minimum time to submit a pre-arrival import declaration when it is mandatory? According to the current customs regime, the mandatory pre-arrival import declaration must be submitted within certain time frames depending on the mode of transport and the journey. General Minimum Time As a […]
