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Colombia Import Regs.: Used Machinery/Equipment

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Colombia Import Regs.: Used Machinery/Equipment

Postby bridgat » Tue Nov 18, 2008 4:20 am

Imports of used equipment and machinery are permitted into Colombia, depending upon their conditions and year of manufacture (not to exceed five years of age). Used machinery imports require prior import license approvals by the Colombian Foreign Trade Ministry (MINCOMEX) for each item.

Specific products will have special requirements for use and/or importation. For example, Decree 4725 of December 21, 2005 governs the use and importation medical equipment/appliances, including the government agency responsible for approving the use of this equipment for humans. In this case INVIMA (FDA equivalent) is the responsible agency.

Used machinery imports are subject to tariff rates of 5, 10 or 15 percent on CIF value (duty may be 5% on CIF value depending on the non-availability of local production of the type of machinery).

The import duties and surcharges can be assessed on the original FOB price (new equipment) when the rebuilt/refurbished equipment is valued at 70% or more of the new equipment price in the country of origin or when depreciation schedule for equipment is below normal rate.
bridgat
 
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