We are offering a summary of the main tax amendments proposed by the Government. As it is a bill, it may undergo substantial changes when discussed in Congress.
On October 31, 2018, the Colombian National Government presented the legislative bill “issuing financing measures to reinstate the balance of the national budget and establishing other provisions”. This bill, which includes 87 articles, introduces changes in the tax system in relation to sales tax (VAT), personal income tax and corporate income tax, creates a new wealth tax, introduces a new economic amnesty, and creates special regimes for mega-investments and for Colombian holding companies.
This document includes a summary of the main changes. As this is proposed legislation, it should be borne in mind that it may undergo substantial modifications when it is discussed in Congress.