Colombia has published Decree No. 766 of 29 May 2020, which provides for a reduction in the income tax advance payment requirements for 2020 for certain sectors in response to COVID-19. In general, income tax advance payments are equal to 75% of the prior year's tax liability or the average of the prior two years. With Decree No. 766, this is reduced to 0% or 25% for the specified sectors, which includes sectors deemed most affected by the economic impacts of COVID-19. Taxpayers in sectors n…