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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.

Colombia’s attorney general says there is evidence that at least 14 different Colombian companies committed financial crimes through an elaborate scheme.

Luis Fernando Mejia offers a candid view of the nation's competitive challenges, the cloud of corruption that Odebrecht has created, and the future of regulations in Colombia.

Though the increase was welcomed by the government, the 126.7 trillion pesos collected came in below the target of 130.1 trillion pesos.

Editor’s note: Adrian Rodriguez, partner with the international law firm Lewin & Wills, has graciously allowed Finance Colombia to reprint the answers he prepared for a professional symposium for the benefit of our readers. Mr. Rodriguez may be contacted at the above links....

Beginning Wednesday, September 16th and 17th, 20 US companies will be visiting Colombia, accompanied by the US Chamber of Commerce and the US State Department. The delegation will be meeting with top Colombian government representatives to discuss different topics relevant to...

Finance minister Maurice Cardenas signed a Foreign Account Tax Compliance Act (FATCA) intergovernmental agreement, with US Ambassador Kevin Whitaker last Wednesday. The bilateral agreement is aimed at combating offshore tax evasion by promoting the exchange of information between...

Colombia’s Tax Authority, DIAN has clarified the withholding tax rate applicable to payments made abroad based on the provisions of Law 1739 of 2014. Article 28 of Law 1739 of 2014 set forth that revenue obtained by companies and foreign entities, that is not attributable to a...

Through the enactment of Law 1739 of December 23rd, 2014, the Colombian Tax Code was modified and certain mechanisms were created in order to avoid tax evasion. Below are the most relevant issues of the new Tax Reform: WEALTH TAX Taxpayers: Individuals and companies that are...