What Changes Does the Tax Reform Bring?

Tax attorney Rafael Lafont wrote column for El Colombiano analyzing the new tax reform proposed by Gustavo Petro's government. The article highlights the main proposed changes, including the reduction of the income tax rate for legal entities, an increase in the occasional gains tax rate, modifications to the wealth tax and changes in value-added tax (VAT) for certain sectors. Mr. Lafont also points out the increase in the maximum marginal rate of income tax for individuals and warns about the need for effective planning in the face of these possible modifications.

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