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The Government plans to hold the last day of day without VAT next Saturday, November 21, as confirmed Briefcase.
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The announcement is in line with what President Iván Duque proposed last Friday during his speech at the Confecámaras congress, in which he raised advance Christmas shopping for the second half of November.
Similarly, a couple of weeks ago, the Colombian Association of Micro, Small and Medium Enterprises (Acopi) had asked the National Government that on the third day without VAT there is a discount of 100% of the tax for products manufactured by the national industry and 40% for imported products.
Thus, the day would begin to encourage Christmas consumption from November, which would largely determine the performance of the economy for the end of this year, which, according to analysts, could be between -5% and -10% and According to the Government, it would be -5.5%.
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According to the firm Raddar, in September household spending continued with good dynamics and grew by 0.37% compared to last year, although spending per person and per household continues to decrease. For its part, credit placement fell 24.6% compared to September last year in current pesos, with an 8.8% decrease in credit card placement, while in September 2019 credit placement grew by 30.3%.
It should be remembered that that third day was postponed in the middle of this year, by decree, and a possible date was not yet known.
“Faced with measures that we will apply with local governments to face the pandemic, we will postpone the third day without VAT, seeking the greatest benefit for Colombians,” said President Iván Duque at the time.
It is expected that this Wednesday, the Government will officially announce the date of this third day.
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BRIEFCASE
