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Internationalization and Annual Sales Plan for Industrial Users of Free Trade Zones

  • By Siacomex
  • 13 February, 2024

Technical Analysis of Decree 0047 of 2024

On January 30, 2024, the Ministry of Commerce, Industry, and Tourism published Decree 0047, which regulates the income tax rate for Free Trade Zone (FTZ) users in Colombia.

Tax Rates and Proportions

The income tax rate for FTZ users is determined by the proportion of income generated from the export of goods and services. Specifically, the decree stipulates that as export income increases, the proportion of taxable net income eligible for a 20% tax rate also increases.

Internationalization and Sales Plan

To benefit from this preferential tax rate, industrial users in Free Trade Zones must agree upon and submit an annual internationalization and sales plan. This plan must include:

  • Net Income Goals: Detailed expected net income from the export of goods and/or services.
  • Domestic Operations: Expected income generated within the national customs territory must also be included.
  • Additional Income: Any other income not directly related to the authorized, recognized, or qualified activity must be specified.

Submission Deadlines

For the 2024 fiscal year, users must submit their application by June 30, 2024. For subsequent years, the application must be submitted by September 30 of the year immediately preceding the relevant fiscal year.

This decree provides a clear and specific framework for Free Trade Zone users to plan and optimize their export strategies, ensuring significant tax benefits based on their export income.

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