The Colombian Ministry of Finance submitted a proposed tax reform bill in Congress on 10 September 2024 that contains several important tax measures. Some of the key measures include:
- Introducing a new progressive corporate income tax based on the tax value unit (Unidad de Valor Tributario - UVT) as follows from 2025 with scheduled adjustments in the middle and top bracket rates:
- up to UVT 6,285 – 27%
- over UVT 6,285 to 120,000 – 34% in 2025, 33% in 2026, 32% in 2027, 31% in 2028, and 30% fro…