Colombia's Ministry of Finance has published the final report of the Tax Experts Commission. The Commission was formed in early 2015 to analyze Colombia's tax system and propose amendments for reform. Some of the main reform measures proposed in the report include:
- Introducing a single corporate tax rate between 30% and 35% (current standard rate is 25%, while foreign companies with no branch or PE in Colombia are subject to 40% rate (2016));
- Eliminating the CREE tax (9%), CREE surcharge (6%…