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In the middle of his speech at a forum of the Organization for Economic Cooperation and Development (OECD) on economic prospects for Latin America, the head of state indicated that this measure has not only served to boost electronic commerce in the country, but to the entire economy, Therefore, he announced that the third day without the collection of 19% of the Value Added Tax (VAT), which had been suspended due to the pandemic, will be carried out.
“We hope to make a last day without VAT in the last two months of the year so that families can connect to buy their products, their Christmas gifts and, also, give an additional boost to the economy,” said the president, so Fenalco’s request on this day could come true.
The president also indicated that despite the fact that when the first two days were held without the tax in the country, the pandemic was at its highest peak, e-commerce had a great boost, which is why the highest sales in the history of Colombia were achieved through these platforms.
How did Colombia do in the first two days without VAT?
According to the National Tax and Customs Directorate (DIAN), during the first two days without VAT in the country, held on June 19 and July 3 of this year, the total sales of the commerce surpassed the 9 trillion pesos, silver that means almost one point of the Gross Domestic Product (GDP).
The customs authority highlighted that sales, only on the second day without VAT, reached 4 billion pesos. In total, 900,000 transactions were made, compared to 750,000 that were registered on June 19 (first day without VAT).
According to the government’s balance sheet, online sales totaled 320,000 million pesos, money that, according to José Manuel Restrepo, Minister of Commerce, it is so far the highest figure in the history of electronic commerce in the country.
Presidency, for its part, highlighted in a statement that During the second day of the day without VAT, more than 90,000 shops opened their doors to the public “Without riots of people or disorders to regret.”
“On the second Day without VAT, the use of plastic money and electronic payments grew 4.5 times more than in the previous day, while transactions through electronic platforms increased 10 times more,” added the Executive.
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