The National Foreign Trade Association (Analdex) warned about a situation that gold exports could live, whose price has reached $ 3,500 roof per ounce. According to Analdex, These could live a franton for the decree project that aims to increase retention at the source, going from 1% to 2.5% on the total payment value o payment into account in gold purchases made by international marketing societies (CI).
Currently, under current regulations, a miner that sells its production to a CI faces an effective total deduction of 5% (corresponding to 4% royalties and 1% retention at the source according to Art. 1.2.4.6.9. Current). From Analdex they detail that this figure is already at the maximum limit recommended by international experts to maintain the viability and competitiveness of the formal channel compared to illegal alternatives.
The new decree project proposes to add additional retention of 1.5% (2.5% in total) in charge of the IC (new art. 1.2.4.6.9.). Simultaneously, the same project establishes a general self -retention for gold extraction activity (CIIU 0722) of 4.5% (new art. 1.2.6.8.). “While these loads are applied at different times of the chain, the accumulated effect perceived by the artisanal and small -scale mining miner (mappa), which chooses to sell through a CI or ZF, represents a implicit total tax burden that amounts to 11% (4% royalty + 2.5% new retention CI + 4.5% Self -retention),” they added from the aggression.
“The foreseeable consequences of this possible increase in retention in the source is less formality, lower potential collection and greater insecurity. We consider that the implementation of this measure, far from strengthening public finances and state control, would generate a series of interconnected negative consequences,” said Javier Díaz Molina, president of Analdex.
The union leader added that “In addition, it is a contradictory message at a time when the international price of gold reached US $ 3,500 per ounce”. It is worth remembering that, according to DIAN figures, with Analdex analysis, between January and February 2025, precious metal exports reached US $ 649 million, with an increase of 31.6%.
The first consequence is that there could be a massive deviation to the informal market, since a perceived fiscal burden of 11% would act as a strong decay for formal marketing. It is estimated, based on the sensitivity demonstrated by the MAPE sector to fiscal changes, which up to 90% of the approximately 40 tons of annual mappa gold that today could have a vocation of formality, they would deviate to parallel markets and smuggling routes.
Second, there would be a potentially negative fiscal impact, so, although the intention is to increase the collection per unit sold, the foreseeable and drastic reduction of the volume of gold marketed, through legal channels, could result in a net decrease in fiscal income.
A preliminary calculation (based on 40 ton mappa and price of USD/OZ) suggests that the current collection (with an effective rate of 5%) could be around US $ 225 million annually, while with the new structure (effective rate of 11% applied to a formal volume reduced to 10% of the potential) could fall to about US $ 50 million.
This would imply a potential net loss for the treasury of approximately US $ 175 million annually. It would be enough, according to the calculations, that 55% of the MAPE gold deviates to smuggling to completely neutralize any potential gain derived from the increase in retention rates.
For Gina d’Amatato, director of the Alliance for Responsible Mining Foundation, which specializes in mapp establish the type of social and environmental practices used for ore extraction ”.
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