Utilizamos cookies propias y de terceros para obtener datos estadísticos de la navegación de nuestros usuarios y mejorar nuestros servicios.
Puedes aceptar nuestra política de cookies o elegir las cookies que deseas descargar en las opciones.
Did you know that Colombia is about to initiate a new tax reform that will set the economic agenda for this year? Well, this will also affect foreign investment. After much to-ing and fro-ing and several months of debate, the project introduces some important changes to take into account.
So that you can assimilate all the changes effectively and cope with them, our experts at ieTeam Colombia tell you some of the keys to the tax reform:
The main ones are as follows:
1. Hydrocarbons sector: elimination of income tax deductions for mining and oil and gas companies, including royalties paid for the exploitation of non-renewable natural resources.
2. Health and environment: new taxes on sugary drinks, ultra-processed food and single-use plastics (although only packaging). The existing carbon tax will be raised.
3. Changes for companies and individuals: higher taxes on windfall profits and dividends.
4. Foreign companies: new tax on the income of companies that do not have a physical presence in Colombia, but do have "a significant economic presence" in the terms established by law.
5. Free trade zones: limitation of preferential rates.
Fortunately, fiscal and tariff incentives for attracting foreign investment, such as tax reductions, and tariff and VAT exemptions for certain imports and investing companies, are still in place.
Currently, Colombia, with growth above the world economy, is emerging as a country full of opportunities for investors because the national government has on its agenda the incentive to exports and maintains the protection for foreign investors that previous governments have developed, the most relevant guarantees are:
1. The prohibition of illegal expropriations, i.e. expropriations that are discriminatory, without a legitimate public purpose, or without compensation.
2. The obligation to grant fair and equitable treatment, which includes the obligation to respect the legitimate expectations of the investor.
3. The obligation to grant treatment that is not discriminatory towards nationals or foreigners.
From ieTeam, with the experience we have accumulated over the years in Colombia, we support companies in the development of their activities in the country, taking advantage of the positive situation it is going through.
Do you want to continue reading this Yellow Paper?
Leave us your email to continue reading
Once you have completed the form we will send you an email with the Yellow Paper.
Sounds
good?