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"All of them must take this rule into account for their income statement," says Guillermo Berrío of Crowe Colombia, an accounting firm that has been helping clients prepare.

Breaking news: As of 5pm today, Armando Benedetti was spotted on a commercial flight leaving Panamá for Istanbul Turkey.

Misunderstanding of Colombian tax law can lead to extremely costly double taxation & expensive penalties - even jail!

Even though potatoes are native to Colombia, agricultural and supply chain inefficiencies allow European imports to compete on price.

Colombia has a high 19% tax on retail purchases. Visitors can get full refunds on departure - if they follow these steps.

The ministry says that the funds raised will be earmarked for the Fontur Tourism development fund, and that the platforms will benefit from the increased investment in tourism development.

The VAT refund may be credited to the international credit card issued outside the country and indicated on the return request, or alternatively in cash.

Global payroll and tax firm TMF Group just released their 2021 Global Business Complexity Index (GBCI) that analyzes business administration and compliance across 77 jurisdictions, from the time it takes to incorporate a company, to changes in tax legislation, policies around...

Another aspect is the normalization tax complementary to income tax. This 17% tax would be reincorporated with the purpose of normalizing omitted assets or nonexistent liabilities, and would be in force for the year 2022. During 2021 an advance payment of 50% must be made.

Colombia’s National Oil Association argues that the court’s ruling does not touch a critical article of Colombia’s tax code, Article 107.