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Colombian Government Working on Tax Reform Law to Increase Revenue by Ending Certain Tax Breaks, Benefits, and Loopholes

|Proposed Changes|Colombia
Colombia

The Colombian government is reportedly working on a draft tax reform law for economic recovery in response to the COVID-19 pandemic that is meant to increase government revenue while not increasing taxes. The increased revenue is to be achieved by ending certain tax breaks, benefits, and loopholes. This approach is meant to increase the number of paying taxpayers instead of increasing taxes on …

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