Colombia's Tax Bill - Transfer Pricing Updates

Unless otherwise provided, all Colombian and foreign entities subject to income tax in Colombia, including Colombian branches of foreign companies are subject to this 33 % rate.

Since last year UGPP is being really strict on the inspections. The entity is paying special attention to detail when monitoring the companies in order to make sure everyone is in compliance.

For Colombian Tax purposes, the place of incorporation of a company and not the place of its effective management, will determine whether it is resident in Colombia or elsewhere.

When a company decides to move their business into a new market and to open up a new office in a new country, one of the first things to be considered is the country's tax system.

The new president in Colombia, President Iván Duque, has proposed a tax reform bill to help the country boost economic growth and increase productivity.

One of the motivations of the last Tax Reform -Law 1819 of 2016- was to modernize the Colombian tax system with the objective of making it simpler, progressive and more equitable.

El Salvador is not a country to overlook as a business jurisdiction. A country of just 6.5 million people has a positive business relationship with the United States, hosting giant companies such as FedEx and General Motors.

Colombia had two double taxation treaties, the first one with Spain, already approved by Congress through Act 1082 dated July 31, 2006, but pending favorable decision by the Constitutional Court about its constitutionality, and a second one with Chile, signed on April 19, 2007 and already presented to the Congress for its approval.

La residencia fiscal es un concepto de transcendental importancia para aquellas personas que poseen activos ubicados en el exterior o que reciben rentas provenientes de otros países.

Personas Naturales Con Activos En El Exterior Deberán Declararlos En El Formulario 160