June 20, 20 - 5:30 pm - LABS

First VAT-free day in Colombia causes agglomerations

Consumers filled Bogotá’s malls and stores on Friday, the first of three days without Value Added Tax (VAT)promoted by the federal government and approved by Congress as a way to reactivate the economy seriously affected by the COVID-19 pandemic. Data released this Saturday show that about 6 million Colombians took advantage of the shopping day, which generated COP 5 billion, but all of this at a high cost: 88 large agglomerations were registered in Bogotá alone.

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