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This article also features in Levying changes: A look at the Colombian tax legislation and recent adaptations. Read more about this report and view purchase options in our online store.

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There were 22 results found for Colombia and Taxation

There were 22 results found.
Overview

Colombia's tax legislation and recent changes
OBG
plus

Colombia is one of the Latin American countries that offer the most opportunities for economic development and investment. In fact, the IMF classifies the country as the fourth-most-important economy in Latin America, and in 2015 Fortune magazine listed it as one of seven new destinations for investment, along with India, Indonesia, Malaysia, Mexico, Poland and Kenya. According to The Economist magazine,…

Viewpoint

Zandra Guerrero, Acting Partner, BDO, on the importance of conducting due diligence: Viewpoint
OBG
plus

In view of the fact that economies are strengthened through accelerated, and in some cases, sustainable growth, businesses and economic groups seek to expand through mergers and acquisitions as a corporate economic strategy. In these processes, it is of vital importance for the investors to be able to identify possible risks or contingencies associated with the assets, liabilities and businesses that…

Chapter

The Report: Colombia 2016: Tax
OBG
plus

For some time now Colombia has been adapting its tax system with the best tools provided by international tax law in order to compete in the global arena. At the same time, the government is focusing on internal tax collection and is searching for a better distribution of the tax burden among the various actors who contribute to producing the country’s riches. This chapter provides an overview of…

Country Report

The Report: Colombia 2016
OBG
plus

The drop in commodity prices, particularly gold, has created real challenges for the government and private players in Colombia’s mining industry. However, the good news is that it could be one of the first countries to benefit from an expected 2016 rebound in the global price for coal. Gold production also rose 7.7% to 519,472 oz in the third quarter of 2015.

Analysis

Assessing the most recent changes to tax legislation
OBG
plus

It has been just over a year since the tax reform embodied in Law 1607/12 was applied, and the results so far are not completely satisfactory. First, there is a feeling of deception among taxpayers in the sense that the objectives proposed by the state in the fourth quarter of 2012 were not adhered to by the government itself. Initially, the tax reform package was “sold” to the public as a way…

Interview

OBG talks to César Cheng Vargas, President, Deloitte Colombia
OBG
plus

Interview:César Cheng Vargas What generally accepted accounting principles (GAAP) are currently in use in Colombia? CESAR CHENG VARGAS: Decree 2649 of 1993 defined the accounting standards (Colombian GAAP) for all enterprises in Colombia. However, in practice, the tendency of regulators and governmental entities to issue additional accounting standards necessary to perform their regulatory…

Overview

Reforms aim to reduce inconsistencies and address inequality
OBG
plus

In 2012 the Colombian government took a decision to reform the country’s tax legislation to adjust certain inconsistencies in the system. In particular, the tax reform proposed by the government aimed to accomplish the following five goals: Equality: As in any tax reform, the main goal of the 2012 changes was to obtain equality for all taxpayers, which translates into higher taxes for some people…

Country Report

The Report: Colombia 2014
OBG
plus

Indeed, the sound performance of the construction sector, strong investment in public works, restored consumer confidence and a recovery in the hydrocarbons industry enabled Colombia’s economy to regain dynamism and end 2013 with growth of 4.7%. Attracting a record $16.36bn in foreign direct investment in 2013, an 8.2% rise on the previous year, the Andean economy assured its spot among the regi

Chapter

The Report: Colombia 2014: Tax
OBG
plus

Featuring an interview with Cesar Cheng Vargas, president, Deloitte Colombia, this chapter explores recent changes to Colombia’s tax system implemented in 2013, touching on areas such as corporate income taxes and reorganisations, tax havens, capital gains taxes and value-added taxes, among others.…

Viewpoint

Eduardo Calero, Partner, PricewaterhouseCoopers, on tax reform
OBG
plus

The tax reform approved in December of 2012 produced a series of important changes in the business environment, the most important of which were the reduction of corporate income tax from 33% to 25% and the creation of a new equality tax (CREE). This generated a bit of confusion in the first months of 2013, especially in regards to the issue of how the CREE would be viewed within local and international…

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