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Colombia Tax Reform Legislation Includes Increased Dividend Tax, a New Wealth Tax, Rules for Taxing a Significant Economic Presence, and Other Changes

|Proposed Changes|Colombia
Colombia

Colombia's Ministry of Finance has announced the submission of tax reform legislation in the House of Representatives on 8 August 2022. Some of the main proposed reform measures are summarized as follows:

  • The 35% corporate income tax rate is maintained indefinitely, along with the additional 3% surtax on financial institutions;
  • The withholding tax rate on dividends paid to non-resident legal …

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