On 8 August 2022, a bill was submitted to the Congress of the Republic for the adoption of a tax reform in Colombia. The new government proposes a set of measures that aim to redistribute wealth by increasing the tax burden on those with the greatest taxpaying capacity.
Most of these measures are aimed at increasing the taxation of higher-income individuals, limiting tax benefits for legal entities and eliminating existing asymmetries between occasional profit and ordinary income. In addition, new taxes on sugary drinks and processed foods are created.
In the attached downloadable document, we present an analysis of the main aspects of the bill, which has begun the legislative process but has not yet been approved and, therefore, has not yet entered into force.