Government raises tax on clothing imports

The National Government, headed by the Ministry of Finance, published for consultation a draft decree that contemplates a 40% tariff for imported textiles and clothing.

(Manufacturers ask to include differential VAT in the tax reform).

The initiative, defended by President Petro on social networks, seeks to protect and stimulate the national industry and curb smuggling.

“This tariff on clothing imports will allow the Colombian clothing industry to skyrocket. Even better if we stop the great contraband that is the other side of the coin of the export of illegal cocaine”, Petro pointed out on his social networks after the project was known.

The initiative has caused strong criticism because for many it is inconvenient and untimely because it would make the prices of clothes and other confections more expensive at times of strong inflation.

(Again, they draw attention to tariffs on textiles).

According to Professor Jorge Restrepo, one of the first to warn about this draft decree, a tax on clothing “It severely affects the consumer and will increase inflation.”

For his part, for Camilo Rodríguez, President of the Colombian Chamber of Clothing, this proposal is very positive for the national industry as it will be a greater driver of employment, in a sector with a high volume of labor and that will privilege the Colombian product. .

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