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Colombia

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Colombia Introduces VAT Requirements on Supplies Made via Foreign Digital Platforms

Colombia's Minister of Finance has announced that as of 1 June 2018, foreign suppliers making supplies in Colombia via digital platforms are required to invoice for VAT at a rate of 19%, regardless of the country of origin. The VAT requirement generally applies for any purchase made through a digital platform, including Airbnb, Netflix, Spotify, Uber, etc., although certain exemptions will be provided. The implementing regulations for the VAT requirement, which are pending, will provide for the registration of foreign suppliers, including a remote registration system that is to be made available in July. The regulations will also provide for a withholding mechanism that will apply where a supplier fails to comply with the collection and payment of VAT, with the banks facilitating payments made responsible for the withholding.

Additional details of the new VAT requirements will be published after the final regulations are issued.

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