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Domestic VAT, the financial transactions tax, and income tax powered the gains, while fuel, wealth, and foreign VAT revenues lagged.

Online gambling will be permanently subject to VAT, requiring non-resident operators to register, collect, and file VAT from 2026 onward.

The report reviews over 40 variables in 5 tax categories; Colombia's weak corporate and property taxes make it the toughest OECD tax climate.

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.