The Colombian government has prepared a revised tax reform package that is to be submitted in Congress on 20 July 2021. This follows the withdrawal of prior tax reform legislation that was strongly opposed and resulted in mass protests in the country. The main measure in the new package provides for an increase in the corporate tax rate from 30% to 35% in 2022, while other measures focus on increasing revenue by increasing compliance and countering tax evasion. Note, the current corporate tax…