What is the schedular system for individuals? The schedular system is a mechanism through which a taxable base and an income tax rate is determined for individuals, depending on the type of income received, applying to each of them a special mechanism of income purification and a different rate. In general, it is a matter … Read more
With the entry into force of Law 1943 of 2018, the cédulas used in the tax returns of individuals were modified, but such change will only apply for the taxable year 2019. Below, we point out the cédulas to be used in the income tax return for the taxable year 2018. As from the tax … Read more
The adoption of the measures implemented by the Government during the pandemic had a strong effect on tax collection and the fiscal balance. The fiscal expenditure allocated to address the pandemic amounts to 2.7% of GDP, so a tax reform is required to increase by 2% of GDP. The Private Competitiveness Council -CPC- presented on … Read more
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