The respective economic committees of the Colombian Chamber of Representatives and Senate (lower and upper houses of the Congress) have reportedly approved measures of the revised tax reform package that was submitted in the National Congress on 20 July 2021. Measures approved in committee include:
- An increase in the corporate tax rate from 30% to 35% in 2022 (current 31% rate scheduled to be reduced to 30% from 2022);
- The extension of the additional 3% surtax on financial institutions until…