Changes have been made to the rules governing “free zones” (zonas francas) as established in Colombia under decrees issued in 1999 and in 2016.
Decree 659 (2018) modifies Decree 2685 (1999) and Decree 2147 (2016) in an effort to streamline the procedures and simplify the regulations that govern the free zone regimes.
Some of the changes concern the removal or exit of merchandise from the free zones. Other new measures concern the rules for “urgent shipments,” or to facilitate the exit of goods from a free zone to another customs territory for repairs. There are new guidance items concerning the industrial processes that can be conducted in free zones, and the import customs clearance measures for goods that are needed for industrial activities (if they remain in the free zone facilities).
The new measures in Decree 659 have an effective date of 17 April 2018 and will continue to apply until such time that the tax and customs authority (DIAN) launches its new customs computing system (expected in November 2019).
Read a May 2018 report (Spanish) prepared by the KPMG member firm in Colombia
© 2019 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.