Some of the recommendations of the analysts who participated in the Commission of Experts on Tax Benefits have already been made public. Although it is expected that the recommendations of the Commission of Experts on Tax Benefits will be known by the middle of the week, the articles of the new tax reform bill will … Read more
With the new proposal prepared by Anif, an additional collection of approximately $8.2 billion would be obtained, i.e. 0.8% of the GDP. The National Association of Financial Institutions -Anif- released its proposal regarding income for individuals has proposed the implementation of a new structure of marginal rates, to expand the base of individuals who declare … Read more
At the request of the congressmen, the Ministry of Finance made this decision. It seeks to raise 25 billion pesos. The Ministry of Finance informed that at the request of the congressmen, the tax reform, which will be presented under the name of Sustainable Solidarity Law, will be filed in the Congress of the Republic … Read more
The number of taxpayers will increase, as well as the ceiling to pay income; it would be from 2.5 million pesos per month. No additional food will be taxed with VAT in addition to those already taxed. Elimination of exempt income, deductions, tax discounts and preferential rates as of 2023. On March 24, 2021, the … Read more
The Government has said that this refund corrects an injustice such as charging the same rate to the highest income households and the most vulnerable. The director of the National Planning Department -DNP-, Luis Alberto Rodríguez, highlighted the progress made by the Government in terms of VAT refund and assured that, as of April, two … Read more
Decree 374 of April 9, 2021 approved that the filing of the tax return shall continue to be made between April 12 and May 7, 2021. However, the payment of the first installment will be due between June 9 and 23, 2021, and the payment of the second installment between November 9 and 23, 2021. … Read more
Using the powers of Article 808 of the Tax Statute, the Government reduced to 0% the value of the advance payment of income tax for the taxable year 2021 for several taxpayers of the ordinary regime affected by the current economic crisis generated by the COVID-19 pandemic. Making use of the powers of Article 808 … Read more
Fedesarrollo proposes to maintain the 19% rate and gradually raise to 8% the goods currently exempted, excluded or taxed at the differential rate of 5%. The entity also indicates that the current VAT scheme could be replaced by a consumption tax scheme under a single rate of 8%. Much of the low productivity and efficiency … Read more
The Andi does not want the VAT to be touched, nor the income tax for individuals. For Fenalco, under the current conditions Colombians are not prepared for a tax reform. Acopi asked the Government to increase the amount of the payroll subsidy. The National Association of Colombian Businessmen -Andi- does not like the idea that … Read more
With the modifications that would be proposed, the Government would already be looking for a collection of between 18 and 20 billion pesos. No to VAT on public services. The Vice Minister of Finance, Juan Alberto Londoño, assured today in La FM that the reform will continue its course in the debates of the Congress … Read more
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