This chapter provides an overview of Colombia’s tax regime, covering areas of particular interest to investors such as individual and corporate income tax, income tax exemptions, VAT and rates, investment incentives, and other investor considerations. This chapter contains a viewpoint from Jaime Vargas, Tax Managing Partner and International Tax Services Leader, EY Colombia.
The Ministry of Health and Social Protection is responsible for overseeing the Colombian health care system, dictating policy and promoting health care in the country. MinSalud has become one of the most progressive ministries in the government, and its policies on topics such as price control and biosimilars are pioneering for the region. The Statutory Health Law promises an expansion of...
Despite fiscal restraints, the government’s budget for education has stayed at consistent levels. However, with coverage expansion at all levels of education remaining a high priority, expenditure efficiency will be of the utmost importance. By strengthening financing mechanisms and access to early education, with a focus on rural areas and those most affected by the country’s civil conflict,...
Despite Colombia’s extensive natural beauty and bustling cities, its tourism industry has traditionally underperformed relative to its actual potential; however, international visitor arrivals rose by 70% between 2010 and 2015, contributing to the 17% increase in employment during those years. Overall, the coming years are expected to be marked by double-digit growth in tourism indicators. The...
The telecoms sector is adapting to the move from voice to data. Although this is set to affect operators’ financial results in the near term, rapid expansion of smartphones and 4G accessibility is set to enlarge the potential for new offers. Furthermore, the merger of different entities into a single regulatory body would simplify the rules for operators, ease procedures and remove the need to...
Despite the difficulties in securing long-term financing for research, Colombia’s innovation environment is starting to benefit from structural measures. Efforts to raise IT usage in companies and households is supporting innovation efforts and galvanising domestic entrepreneurs. Modernisation schemes targeting industrial clusters are helping to develop a culture of innovation within...
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