Customs and International Trade
New requirements and benefits for international trading companies that commercialize goods of micro, small and medium businesses.
On September 4, Colombian Government issued decree 1451 of 2017, regarding international trading companies that commercialize goods of micro, small and medium businesses. This regulation establishes new requirements to access benefits derived from this special commercial condition.
Decree 380 of 2012 regulates international trading companies, which are legal entities with the corporate purpose of marketing and selling Colombian goods abroad. The benefits of this special status are: certificate of tax refund for exports and the possibility of buying goods in the national market, for export, exempt from the payment of VAT.
Decree 1451 establishes new requirements to request authorization from the Direction of Trade of the Ministry of Trade, Industry and Tourism, as an international trading company that purchases goods from micro, small and medium business. In addition, the decree grants new benefits such as:
- Purchases of goods to micro, small and medium businesses will not be subject to withholding tax.
- Access to services and programs for entrepreneurs offered by entities linked to the Ministry of Trade, Industry and Tourism.
- Support from PROCOLOMBIA in the development of work plans in international markets.
- Support by the Regional Productive Transformation Program in the identification of micro, small and medium businesses that can offer their goods.
This decree will enter into force on September 25, 2017, and will regulate the companies that apply for and obtain authorization according to the terms and conditions established by the new regulation.
Our firm’s Customs and International Trade Team will be happy to provide more information.