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Other countries have fair de minimis systems. Colombia can too—current rules hurt consumers and our economic competitiveness.

Colombian companies miss millions in unclaimed VAT refunds, hindering business growth and efficiency.

Colombia has a high 19% tax on retail purchases. Visitors can get full refunds on departure - if they follow these steps.

The bill imposes new income taxes on Colombians earning more than $2,000 per month, plus petroleum & mining exports.

Emerging market central banks may have acted faster than those of the developed world, but it doesn't mean they have done enough.

The VAT refund may be credited to the international credit card issued outside the country and indicated on the return request, or alternatively in cash.

All three agencies said publicly many months ago that they were looking for the tax reform to right the fiscal ship which has been listing badly ever since COVID struck - to put it bluntly, the authorities have failed to deliver - and it is on them.

Against the backdrop of the images we have seen, it appears almost churlish to discuss Colombia's investment grade credit rating, however its removal would have more effect on those protesting than most of them could imagine.

Ahead of the expected presentation of the tax reform to Congress next week, the 'commission of experts' have spoken with their views as to what needs to happen.

After the first COVID-19 tax holiday was condemned as irresponsible, the Colombian government is restricting electronics & appliance sales during the next two tax holidays taking place in July where shoppers will be exempt from the country's 19% VAT tax.