Colombia's new tax bill comes into effect

Pedro Gonçalves
Colombia's new tax bill comes into effect

Colombia has approved a tax reform bill that includes a lower corporate tax rate, a new tax rate for financial institutions, and a new wealth tax from 1 January 2019 One of the proposed changes will create a single form called the SIMPLE Taxation system for micro or small companies to use in order to settle their tax obligations. This will help to reduce costs. One of the goals of this reform is to create methods to reduce the high tax burden that is currently on companies. The hope is tha...

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