Colombia Mulls Value-Added Tax Hike

by Mike Godfrey, Tax-News.com, Washington

Colombia is due to hike its value-added tax rate to 19 percent from 16 percent.

The measure was included in a tax reform bill that was recently approved by Congress. The hike would come into effect from 2017.

The VAT cut would be accompanied by tax cuts for companies and more stringent penalties for tax evaders.

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