close
Share with your friends

Colombia: New customs measures effective August 2019

Colombia: New customs measures effective August 2019

New customs measures in Colombia are effective in August 2019.

1000

Related content

The customs measures are included in Decreto 1165 (2 July 2019) and have an effective date of 2 August 2019.

In general, the decree collects in one document and standardizes guidance issued in prior decrees (from 1999 and 2016), but it also modifies certain measures with a goal of facilitating foreign trade. The new decree is intended to provide certainty and stability with regard to the customs regime.

The decree includes provisions concerning the Authorized Economic Operator (AEO) regime, and the decree maintains and in some areas strengthens the AEO measures. There are other measures addressing what are the consequences when there is a failure to submit an advance declaration. Another measure extends the period from 15 days to 30 days for purposes of clarifying and addressing inconsistencies with regard to imported merchandise.

The tax authority (DIAN) is expected to issue regulatory guidance to implement the measures.


Read a July 2019 report (Spanish) prepared by the KPMG member firm in Colombia

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.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal