Will the Colombian Government’s Revised Tax Plan Win Approval?
Tax attorney Juan Carlos Valencia Marquez was quoted in the Latin America Advisor about a new tax reform bill proposed by Colombian President Iván Duque. The initial proposal was presented in April and resulted in weeks of nationwide protests. The new bill was created in conjunction with the most representative groups in Congress. Mr. Valencia Marquez believes this will ensure a high probability of approval.
"Generally, the bill has been well received by the public, mainly because it places most of the burden of tax rate increases on companies," said Mr. Valencia Marquez. "No provisions affecting individuals are included."