With the presidential sanction of the Tax reformapproved in the Congress of the Republic, following reconciling with unions of workers, businessmen and politicians from all sectors of the country, one of the significant changes that will take place, It is related to food and transporters.
This guild paid a VAT on the income of the wholesale centrals and initially this tax was contemplated on the rate, which meant that for the next year it would increase by more than 32%.
Nevertheless, VAT was repealed, which means that the 14 wholesale supply centers that exist in the national territory will stop charging the tax on the price of the entrance fee.
Francisco Javier Salcedo Caycedo, president of the Network of Colombian Supply Centerssaid that this reform will benefit restaurant owners and users in general that are supplied from the wholesale market. “We are grateful for the management that President Gustavo Francisco Petro has carried out,” he said.
According to the figures of the central network, not charging VAT to vehicles represents a value close to $50,000 million, which directly impacts the price to the consumer of the family basket.
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It is worth mentioning that a vehicle entering a wholesale market in 2023 would have to pay the current rate, plus VAT (19%), plus the CPI consumer price index.
For example, Corabastos, the Bogota wholesale center, has different categories according to the vehicle’s axles. Those who are category 1 already pay $60,800 to enterthe second $28,800, the third $26,400, the fourth $9,700 and the fifth $5,100, prices that will remain fixed.
The additional value of VAT fell on these rates, Therefore, it would not only mean an increase for the merchants and producersbut would be transferred to final consumers.
It will go into effect in January.
The tax reform approved by Congress will take effect on January 1, 2023.
The Minister of Finance, José Antonio Ocampo He assured that the collection goal for next year will be in the order of $20 billion, of which the mining-energy sector will contribute regarding $11 billion, companies $4 billion, and individuals $1.3 billion.
He stated that the income tax for natural persons will have a greater impact for those Colombians with incomes of more than $10 million.
According to the minister, the rate on occasional earnings increased from 10 to 15%, except for those from gambling, which will continue to pay 20%.
For its part, the dividends will be added to the other income of the certificate general but its marginal rate will go from 0% to 20%. This is due to the fact that, although the dividends become part of the general certificate, they have a discount of up to 19 percentage points in the rate. That being said, more than 80% of dividends are earned by people facing marginal fees of 28% or more.
