In view of the fact that economies are strengthened through accelerated, and in some cases, sustainable growth, businesses and economic groups seek to expand through mergers and acquisitions as a corporate economic strategy. In these processes, it is of vital importance for the investors to be able to identify possible risks or contingencies...
Colombia is one of the Latin American countries that offer the most opportunities for economic development and investment. In fact, the IMF classifies the country as the fourth-most-important economy in Latin America, and in 2015 Fortune magazine listed it as one of seven new destinations for investment, along with India, Indonesia,...
For some time now Colombia has been adapting its tax system with the best tools provided by international tax law in order to compete in the global arena. At the same time, the government is focusing on internal tax collection and is searching for a better distribution of the tax burden among the various actors who contribute to producing the country’s riches. This chapter provides an overview...
Despite continuing external headwinds, in particular the significant drop in the price of oil since mid-2014, the Colombian economy remained resilient in 2015, expanding by 3.1%.
The excise tax regulating consumption is being removed from the Commercial Tax Law and is being presented to Parliament as a new tax law, known as the Special Commodity Tax Law. The old Commercial Tax Law will subsequently remain in force and will be administered only as a value-added tax/goods and services tax, which will be applied to the...
The years 2012 and especially 2014 witnessed several constructive changes through amendments to the Income Tax Law (ITL), the Commercial Tax Law (CTL), the Stamp Duty Act and the Court Fee Stamp Act. These were aimed at meeting the tax reform agenda that was set by the parliamentary government installed in 2011, in order to eradicate the...
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