Foreign Trade, Customs Laws And Foreign Exchange Regulations II

Dear clients and friends,

Through this bulletin, we share with you the main regulations and authority rulings and opinions that were recently issued in relation to customs law, foreign exchange law, and foreign trade law matters. We trust this is of your interest.

− Through Bulleting 8 dated February 10, 2016, the Colombian Central Bank modified External Regulatory Circular Letter DCIN 83. The main modifications made are the following:

• A procedure was included to "nullify" foreign exchange declarations filed through a foreign-exchange market intermediary ("IMC" for the Spanish initials). The purpose of this procedure is to pool this type of transactions [declarations] with amended declarations that are filed as "modification and corrections for "typing errors" that existed previously. In case it is admissible, the effect of the nullification would be that the information contained in the foreign exchange statistical system (SEC for the Spanish initials) will