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Colombia tax reform and 4x1000 tax repeal proposals
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2026-08-03 17:15 UTC → 2026-08-21 23:06 UTC ·
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Colombia tax reform and 4x1000 tax repeal proposals
In late July and early August 2026, senators Christian Garcés and Angélica Guerra of the Centro Democrático re‑introduced a bill to phase out the 4 × 1000 financial transaction tax (GMF) over seven years, keeping the current rate in 2027 and lowering it by 0.5 points per thousand each year until it reaches zero party introduced legislative proposals in 2034. The legislators say the repeal will ease household tax burdens, boost purchasing power, stimulate investment and improve competitiveness. The same package seeks Colombia to make up reform key taxes. One initiative seeks to three “Day without VAT” events a permanent fiscal measure. On 3 August, the Congress presented revive the bill that would allow “Día sin IVA” (Day without VAT) by allowing the government to decree up to three tax‑free days per year, covering tax-free shopping events annually. This measure, which applies to both physical stores and e‑commerce. The measure prioritises e-commerce, prioritizes goods with at least 50 % 50% national content and sets UV‑based tax‑free limits for categories such content—such as clothing, appliances, computers, sports equipment, toys, school supplies and agricultural inputs. Discussion of both initiatives is slated inputs—to stimulate consumer spending and support domestic producers. Simultaneously, efforts have been made to begin phase out the 4x1000 financial transaction tax (GMF), a levy in place since 1998. While senators Christian Garcés and Angélica Guerra proposed a seven-year gradual reduction aiming for total repeal by 2034, a separate bill presented in the Chamber of Representatives. The announcement was reported alongside Argentina’s separate VAT‑refund scheme for SMEs, but Representatives by Representative Natalia Moreno of the Colombian proposals remain Pacto Histórico seeks to achieve the focus progressive elimination of the tax by 2030. Proponents argue that the reform agenda. is necessary to ease the burden on low-income households, improve liquidity, and boost national competitiveness without causing abrupt fiscal instability.
Versions
- 2026-08-21 23:06 UTC Colombia tax reform and 4x1000 tax repeal proposals
- 2026-08-03 17:15 UTC Colombia tax reform proposals
- 2026-08-03 02:43 UTC Colombia tax reform proposals
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