Decree 659 of May 22, 2024 - Main changes and new developments
Decree 659 of May 22, 2024 has been issued by the Ministry of Finance and Public Credit, through which modifications were made to the current customs regulations corresponding to Decree 1165 of 2019. With the changes in this new regulation, the National Government seeks to strengthen actions to prevent smuggling, as well as to streamline customs operations and increase security both at the borders and at the place of arrival of goods.
Among the novelties and modifications to the operations that have been incorporated in this Decree are the import process, the mandatory advance declaration, the declaration of entry, legal abandonment, consolidated payments and details on the operations between International Trading Companies (IC) and Free Trade Zones.
Registerwe will share with you the Decree 659 dated May 22, 2024The report is accompanied by a brief summary to give you an overview of the highlights if you do not have the time to read it in its entirety.
In the summary we explain the changes, novelties and sanctioning cases that will apply with this new Decree, in the following points:
- Import process
- Mandatory Advance Statement
- Income Statement
- Legal Abandonment
- Consolidated payments
- Transactions between International Trading Companies (IT) and ZFs