Colombia


A Very Respectable Four Percent

Posted on June 15th, by Global Tax Weekly in Economy, International Taxation. No Comments

Colombia’s recent economic track record is quite remarkable given the internal strife that continues to blight the country. Large swathes of rural Colombia remain no-go zones for those not affiliated with the FARC guerrilla movement, which the Government has been battling (literally) for 50 years. Yet, the economy has been growing at a very respectable four percent a year for the past four years, stretching a trend of unbroken economic growth which has lasted a decade. Colombia also attracted record levels of foreign investment last year after all three international credit rating agencies upgraded the Government’s debt to investment grade. Not bad for a country seemingly in a perpetual state of civil war. It’s also pretty impressive when you consider how bad the country’s tax system is. As the OECD pointed out recently, the combined statutory corporate tax rate of … Read More »





RELATED ARTICLES AND INFORMATION

Australia Announces Budget Measures

The Australian Government announced in its Budget that it would be bringing forward personal tax cuts that had been scheduled for 2022.

The Australian authorities...

UK Clarifies VAT Rules

In the UK, while things are gearing up to get more complicated on pretty much all fronts, the tax authority sought to provide clarity...

Australia Focussing On COVID-19 Compliance

In Australia, the ATO is highlighting non-compliance by some businesses with the rules regarding eligibility for providing JobKeeper payments.

The JobKeeper Payment scheme is a...