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March 2016

New Customs Statute Enacted

Dear clients and friends,

On this day, March 7, 2016, by means of Decree 390 the national government issued the New Colombian Custom Statute.

For the past 17 years Colombia had not undergone any substantive changes in its customs duties law. However, given that the country entered global economy through ratification of several free trade agreements and underwent a change in its commercial dynamics, during the last two years the national government has been reassessing current customs duties laws and regulations.

Although the new regulations create big opportunities for companies involved in foreign trade transactions, they will also create new responsibilities. Thus we invite you to study and learn about the new rules of Colombian foreign trade and find out in which way will these new rules affect your organization.

Si bien la nueva regulación crea grandes oportunidades para las compañías que realizan operaciones de comercio exterior también acarreará nuevas responsabilidades, de ahí que los invitemos a conocer las nuevas reglas de juego del comercio exterior colombiano y la forma como impactarán a su organización.

If you need additional information on this matter, or on any other customs duties, foreign exchange and foreign investment matters, please feel free to contact Juan Pablo Godoy at Esta dirección electrónica esta protegida contra spambots. Es necesario activar Javascript para visualizarla or Camilo Castrillón at Esta dirección electrónica esta protegida contra spambots. Es necesario activar Javascript para visualizarla .