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Without the mobility restrictions that characterized the first two days without VAT (June 19 and July 3), except for those that require the purchase of technology items and electrical appliances online, the country’s merchants believe that in this new commercial marathon, which began at zero hours on Saturday, their sales will reach 7 billion pesos, 10 percent more than the previous day.
And although the Government estimates are more conservative, 5.7 trillion pesos, the truth is that these days without VAT, approved in the economic growth law (Law 2010 of 2019), they constitute one of the key strategies with the that the Executive expects to give a boost to the reactivation of the economy that already shows some signs of improvement, since at the end of the third quarter its contraction was much lower (9 percent) than that of the first quarter (15.8 percent), as revealed by the Dane this week.
(Read also: Computers in this price range will be exempt from paying VAT)
Also part of this strategy is the advance payment of the December premium that was authorized for some 1.2 million public employees and to which the Éxito Group has joined, with the advance to 35,000 workers, Auteco and the AFP Protection that will advance the premium to its 70,000 pensioners.
Self-care, the key
This Saturday will not be a very different day from those held in the middle of the year, and although there are sectors that foresee that some student marches that would be commemorating the strike on November 21, 2019 could create difficulties in vehicular traffic, from the workers’ centrals discard it outright.
Diógenes Orjuela, president of the Central Unitaria de Trabajadores (CUT), assured that the National Unemployment Committee has no scheduled marches or rallies. “Basically there will be, in some squares and squares of the country, cultural and artistic events with which it will be commemorated on November 21 of last year”, he claimed.
(Further: Day without VAT: Guide to buy online faster)
Some student organizations, however, announced mobilizations in cities like Bogotá.
Apart from this, merchants, through their spokesperson, Jaime Alberto Cabal, say that you have to be very responsible with self-care and comply with biosafety protocols and avoid crowds.
Something in which José Manuel Restrepo, Minister of Commerce, agrees, who indicated that face-to-face sales will be allowed in some sectors, while the acquisition of electrical appliances, technology and communication equipment will be done only online.
People who participate in this event must bear in mind that they will not be able to buy more than three units of the same product, and only merchants with legally established establishments will be able to apply the discount.
The only accepted form of payment will be electronic, which means that only debit, credit or prepaid cards and other electronic payment mechanisms will be accepted.
The seller will have to issue an electronic invoice on a mandatory basis and Dian may apply a general anti-abuse rule in the event that prices are manipulated.
(Of interest: Which cell phones will be tax-free on the day without VAT?)
Online you can buy home appliances, communication equipment, skateboards and bicycles whose sale price per unit is equal to or less than 2,848,560 pesos, equivalent to 80 Units of Tax Value, not including sales tax (VAT).
Toys and games with a value equal to or less than 356,070 pesos (10 UVT), not including VAT. This category does not include adult bicycles and tricycles, carnival and party items, recreational items, computer programs and softwares.
Clothing, footwear and sporting goods
Although in the first two days without VAT, the purchase of appliances and technology had great dynamics, some merchants believe that this time, due to the proximity of Christmas and, anticipating a little to 2021, many parents will demand more clothing, footwear and even supplies schoolchildren.
However, they should be aware that not all products in those categories will be exempt from VAT.
For example, if it is about clothing, to obtain the benefit, the sale price of the product must be equal to or less than 712,140 pesos. It is about clothing of all kinds, that is, any piece of clothing or footwear, but does not include raw materials.
For clothing accessory items, the sale price per unit must be equal to or less than 712,140 pesos, not including VAT; and if it is a question of buying sports items, their sale value per unit must be equal to or less than 2,848,560 pesos, excluding VAT, such as backpacks, briefcases and handbags, among others.
(You may be interested in: Day without VAT: this is what you can buy on November 21)
ECONOMY AND BUSINESS
