Colombian tax reform rewrites VAT system – Ernst & Young T Magazine

On 26 December 2012, the Congress of Colombia enacted a tax reform that seeks to simplify VAT legislation in the tax code. This reform means that major changes have been introduced to VAT rates, taxable goods and services, VAT recovery and VAT filings.

Colombia’s VAT system before the changes

In Colombia, VAT is applied to the sale or import of tangible goods into the country and the provision of services within the territory.

Read more: Colombian tax reform rewrites VAT system – Ernst & Young T Magazine.

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