The VAT refund will be up to $240,000: this is how the next transfer will be made
The VAT refund program seeks to benefit the most vulnerable population of the country, with the delivery of an extraordinary draft that aims to reimburse the beneficiaries a percentage corresponding to the taxes they paid on their regular purchases. We tell you more about the VAT refund subsidy for 2023.
Extraordinary draft 2023
The Colombian government announced that an extraordinary draft will be issued to the families benefited this year with the VAT refund subsidy, who have not received the corresponding money. In other words, in case of pending or accumulated payments, the Department for Social Prosperity (DPS) will be granting an extraordinary transfer of up to $240 thousand in the coming months.
You may be interested in: Guide to VAT Refund 2023: How to consult it and claim it if you are a beneficiary
The DPS announced that the recently scheduled extraordinary draft is intended to complete the amount of up to 3 unrealized collections, as some of the payments in the amount of $80 thousand are frozen.
So far, it is known that many older households will be placed in “non-current” status, while others will receive accumulated payments and still others will receive the benefit for the first time. For this reason, it is important to verify the status of your household.
How do I know if I am a beneficiary of the extraordinary VAT refund subsidy transfer?
If you have not received notification regarding the extraordinary transfer of the VAT refund subsidy, please note that you can check for yourself whether you may be a beneficiary of the incentive from your household.
To verify this, you must go to the official VAT refund subsidy website and follow the steps below:
- Access the VAT refund incentive portal.
- Select the option “Consultation of Beneficiaries”.
- Enter the identification document and validate the authentication.
- Verify the status of your household in the program.
Who receives the VAT refund subsidy?
The Colombian government has emphasized on multiple occasions that the nature of this type of incentive is to alleviate the economic situation of lower income families in the country. For this reason, the initiative concentrates efforts in the most vulnerable areas, according to the records of the Department for Social Prosperity (DPS).
Regarding the initiative, the Department for Social Prosperity (DPS) has already announced that it is working on updating the data of potential beneficiaries.
In this case, the entity will identify households previously in force, whose status may change to not in force. In addition, households with accumulated pending payments and those that meet the requirements but have never received a VAT 2023 refund subsidy will be identified.
To perform the study correctly, the DPS uses the socioeconomic registry resulting from the Identification System of Potential Beneficiaries of Social Programs (Sisbén) IV, the most recent version. More information can be found at this link.
You may also read: You can still apply for housing subsidies in Bogota: learn here how you can take advantage of this opportunity
Please note that the Department for Social Prosperity has proposed to improve the distribution of economic benefits. To ensure greater equity in the process of issuing the extraordinary draft, the entity has proposed to review the history of potential families to identify whether they already receive other incentives.
Therefore, households that already receive subsidies from other social programs, such as Transit to Renta Ciudadana, Familias en Acción or Colombia Mayor, among others, will not be eligible to receive the VAT refund.
VAT refund in figures
In 2021, the program benefited around 2 million families throughout Colombia.
Of these beneficiaries, a total of 700 thousand households belong to the most vulnerable population of Familias en Acción.
Approximately 300 thousand families benefit from the incentive by acquiring priority as members of the “Colombia Mayor” Program.
According to the new guidelines of the Department for Social Prosperity, those households that receive incentives such as Familias en Acción and Colombia Mayor will not receive the extraordinary transfer of the VAT refund subsidy, as the entity seeks to deliver the benefit to households in conditions of extreme need.
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