ACICAM warns about recent tax changes
Decree 0572 of 2025 has raised concerns within the Colombian Association of Footwear, Leather and its Manufactured Goods Industrialists (ACICAM) due to the increase in self-withholding tax rates, including for activities linked to the fashion system.
According to the association, the regulation impacts the cash flow of formal companies -mostly small and medium-sized enterprises- which have limited capacity to make advance tax payments. ACICAM warned that this change could restrict investments, contradict employment and productivity growth goals, and hinder formalization processes.
The association has called on the National Government to review the measure and thoroughly assess its consequences on the stability of the sector, which encompasses the value chain for footwear, leather, and leather goods.