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During the installation of the Fenalco National Assembly, Iván Duque said that, with the lessons learned from the conferences held this year, the Government will be able to make regulatory adjustments.
President Iván Duque Márquez announced this Friday during the National Assembly of Merchants, held by the National Federation of Merchants (Fenalco), that the Government will adjust, through a bill, the development of VAT-free days in the country, a novelty tax in Colombia.
Duque mentioned that being a candidate for the presidency, “I proposed to the country the Day without VAT. That Day without VAT is not an emergency measure, it is in the Economic Growth Law, and being there it becomes State policy ”.
He also mentioned that although the law was regulated within the framework of the pandemic, thanks to the experience of the three days without VAT “the regulatory adjustments will be made quickly in the next legislature,” said the president at the virtual event.
The measure will seek that the initiative, included in the Economic Growth Law, “is increasingly effective and more conducive to the liquidation of inventories and the natural stimulus to our national aggregate demand.”
During the first day without VAT, sales of more than $ 5.4 billion were registered, according to DIAN data. The best-selling items were household appliances, especially televisions and cell phones (both products had an exemption amount of almost $ 2,850,000).
By the second day without VAT, sales approached $ 4.5 billion, according to DIAN records. The remarkable thing about this day was no longer the crowds (the sale of household appliances was restricted to online transactions), but the growth of electronic commerce, which established a mark of 900,000 transactions (with sales of $ 320,000 million through this channel).
On the third day without VAT, held on November 21, the business sold $ 5.8 billion. According to Mincomercio, the figure corresponds to a growth in pesos of $ 1.4 trillion and in percentage of 40%, compared to the income obtained by merchants in the two previous days without VAT, which took place on June 19 and July 3.
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