NEW CARBON TAX

ARBITRATION AWARDS AND COURT RULINGS WILL BE TAXED IF THEY HAVE AN ECONOMIC CONTENT

CHANGES TO THE INDUSTRY AND COMMERCE TAX (ICA)

New Partners

ARGENTINA

COLOMBIA

COLOMBIA

COLOMBIA

PANAMA

CREATION OF THE SINGLE TAX FOR SMALL RETAIL BUSINESS AND OTHER NEW TAXES

TAX ABUSE FOR NON-FOR-PROFIT ENTITIES

NEW ACTIVITIES WILL BE ESTABLISHED FOR BELONGING TO THE SPECIAL TAX REGIME OF NON-FOR-PROFIT ENTITIES

PAYMENTS TO INDIVIDUALS RELATED DIRECTLY OR INDIRECTLY TO THE NON-FOR-PROFIT ENTITY COULD LEAD TO THE EXCLUSION OF THE ENTITY FROM THE SPECIAL TAX REGIME

ALTERNATIVE METHOD TO DETERMINE UNJUSTIFIED EQUITY INCREASES OF QUALIFIED ENTITIES BELONGING TO THE SPECIAL TAX REGIME

A NEW NATIONAL REGISTRY WILL BE CREATED FOR ENTITIES WISHING TO ACCESS TO THE SPECIAL TAX REGIME OF NON-FOR-PROFIT ORGANIZATIONS

PROPOSAL TO INCLUDE THE CRIMINAL OFFENCE OF TAX EVASION

CHANGES IN THE STATUTE OF LIMITATIONS FOR ASSESSMENT AND COLLECTION OF TAX RETURNS

TAX PENALTIES WOULD INCREASE

NEW TAX PROCEDURES AND PENALTIES RULES

COLOMBIA WOULD IMPLEMENT CONTROLLED FOREIGN CORPORATION RULES TAXING PASSIVE INCOME

CHANGES TO THE TRANSFER PRICING RULES, NEW REPORTING OBLIGATIONS AND CHANGES TO THE PENALTY REGIME

CHANGES TO WITHHOLDING TAX SCHEDULES FOR OUTBOUND PAYMENTS

STARTING FROM 2017 THE TAXABLE PERIOD OF VAT WILL BE MODIFIED

VAT ON E-COMMERCE SERVICES RENDERED FROM ABROAD

SALES OF INTANGIBLE ASSETS WILL BE SUBJECT TO VAT

SALES OF NEW RESIDENTIAL REAL ESTATE WILL BE SUBJECT TO VAT STARTING FROM 2017

THE GENERAL RATE OF VAT WILL BE INCREASED TO 19%

INDIVIDUALS EARNING A MONTHLY INCOME GREATER THAN USD$900 SHOULD FILE INCOME TAX RETURN.

INDIVIDUALS WILL PAY INCOME TAX DEPENDING ON THE TYPE OF INCOME THEY RECEIVE

CHANGES TO THE INCOME TAX WITHHOLDING SYSTEM FOR EMPLOYEES