Tag

Colombian companies miss millions in unclaimed VAT refunds, hindering business growth and efficiency.

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.

The report’s co-author Cameron Wilson took time to speak with Finance Colombia executive editor Loren Moss about the many points covered by the report, including what to expect in the second half of Colombian President Ivan Duque’s term.

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.

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

Iván Duque won convincingly in a second-round run off election over leftwing candidate Gustavo Petro, a controversial former M-19 guerrilla member.

Colombians today will put either rightwing candidate Iván Duque or leftist Gustavo Petro in office for the next four years.

Duque says that tax reform to cut the corporate rate below 30% is one of the ways Colombia can get back to 5% annual GDP growth.

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