Colombia Raises Import Duties on Apparel Items
Colombia recently increased its import duties on certain apparel products, the Hong Kong Trade Development Council reported May 5. The country announced last month that it would establish a 40% ad valorem duty on certain apparel items with a “[free…
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on board] value equal to or lower than” $10 per gross kilogram. Colombia will also impose a “compound duty rate” of 15% ad valorem plus $1.50 per gross kilogram for apparel items with an FOB price higher than $10 per gross kilogram. The duties will remain in place for two years.