Tax Reform: Increases for Freelancers and Benefits of the SIMPLE Regime

Tax attorney Rafael Lafont wrote column for El Heraldo where he analyzed the tax changes for freelancers and self-employed individuals in Colombia. Mr. Lafont warns about increases in the tax burden after the changes in the tax reform through Law 2277 of 2022, which reduce allowed deductions and exempt amounts. Given this panorama, Mr. Lafont recommends that taxpayers consider the SIMPLE Taxation Regime, with preferential rates of 5.9 to 14.5 percent, as an alternative to reduce taxes before February 29. He also emphasizes how crucial it will be this year to review the options available in the face of a possible new tax reform.

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