A proposed bill to tax technological goods

The Excise Tax levies the importation and the issuance of sumptuary goods such as alcoholic beverages, tobacco, tires, and mobile phone services, among other things.

Value Added Tax levies the sale of movable goods located in the country, the rendering of services and the importation of movable goods or services. The general tax rate is 21%. However, the law establishes reduced tax rates for certain goods and services.

As for the Excise Tax, the Bill proposes to levy the importation and issuance of technological and computer goods at a rate of 17%.

With respect to Value Added Tax, the Bill proposes to raise the tax rate for certain telephony goods and recorders from 10.5% to 21%.

In August 2009, the House of Representatives approved the Bill and it is now waiting for approval by the Senate.