Tax
From The Report: Colombia 2017
View in Online Reader

This chapter provides an overview of Colombia’s tax regime, covering areas of particular interest to investors such as individual and corporate income tax, income tax exemptions, VAT and rates, investment incentives, and other investor considerations. This chapter contains a viewpoint from Jaime Vargas, Tax Managing Partner and International Tax Services Leader, EY Colombia.

Articles from this Chapter

Overview

Pay back: Reform of the tax code means new guidelines for investors
OBG
plus

The new tax reform is aimed at generating structural changes to the Colombian tax regime, with the purpose of redistributing the tax burden between legal entities and individuals, supplying better audit tools to the tax office, and avoid, in as much as possible, the creation of new taxes and/or the increase in the rates of the currently existing ones. The new tax code also includes a new regime for controlled foreign companies (CFC). Colombia’s Congress enacted Law No. 1819 of 2016 in late…

Viewpoint

A different approach: Jaime Vargas, Tax Managing Partner and International Tax Services Leader, EY Colombia, on newly enacted tax reforms
OBG
plus

Viewpoint:Jaime Vargas For too many years tax reforms in Colombia have been aimed at solving fiscal collection shortages by creating new temporary taxes that, by way of being re-enacted time after time, became permanent, or by increasing the rates of existing taxes. This short-sighted approach has resulted in a disjointed tax system that imposed an excessive burden on companies, with direct impacts such as discouraging investment and challenging economic growth. In an attempt to remedy this…