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Major tax reform – details

|Approved Changes|Colombia
Colombia

Law No. 1607 of 2012, generally effective form 1 January 2013, amends the Tax Code (estatuto tributario).The most important amendments of the major tax reform are as follows:

Corporate income tax

-   Reduction of the corporate income tax rate from 33% to 25% for resident companies and non-resident companies deriving their income through a permanent establishment in Colombia.
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