Tag

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

The bill imposes new income taxes on Colombians earning more than $2,000 per month, plus petroleum & mining exports.

Ahead of the expected presentation of the tax reform to Congress next week, the 'commission of experts' have spoken with their views as to what needs to happen.

After the first COVID-19 tax holiday was condemned as irresponsible, the Colombian government is restricting electronics & appliance sales during the next two tax holidays taking place in July where shoppers will be exempt from the country's 19% VAT tax.

Colombia's "Day without Tax" may have undone in less than 24 hours the country's past three months of success in battling the Coronavirus COVID-19 Pandemic. Even if the government decides to lift curfews and restrictions, this may have been the dumbest possible way to do it.

The collapse in oil prices has led ACP, Colombia's petroleum industry association to call on the country's government to allow flexibility in the regulated pipeline transportation costs, that now make up almost half the cost of a barrel of oil, says the trade group.

Fitch Ratings released an analysis on Colombia’s tax reforms, stating they will likely signify revenue losses in 2020, underscoring the view that meeting this year’s fiscal deficit target will be challenging and reliant on extraordinary revenues, the ratings firm...

In mid-November, the Banco de la República forecasted inflation to end both 2018 and 2019 at 3.3%.

Most analysts are equating the underwhelming growth to low consumption following the recent tax hike that increased Colombia's VAT by 3%.