TIEA between Colombia and the U.S. has Entered Into Force

On 30 April 2014, the tax information exchange agreement (TIEA) between Colombia and the U.S. entered into force. The agreement was signed on 30 March 2001, and covers the following taxes:

• All U.S. federal taxes
• Columbian national taxes, including:
  • Income tax and complementary taxes
  • Sales tax
  • Stamp tax
  • Bank debit tax

Provisions of the TIEA generally apply from its date of its entry into force.