US businesses fear Colombia’s taxation proposals will increase tax burden
May 1, 2015
US businesses fear Colombia’s taxation proposals will increase tax burden
posted by Alice Bradshaw-Smith
US companies holding business in Colombia are concerned over the possibility of new taxes that could emerge from a reform currently being considered by a group of experts selected by the government.
This sentiment was aired at Wednesday’s annual meeting of the American Business Council (CEA), an organization that brings together 125 US companies present in Colombia.
Company representatives highlighted at the event that American firms operating in the country generate more than 7% of Colombia’s gross domestic product, and a similar percentage of the taxes collected. Last year, the companies invested more than $15 million into the country.
Referring to the proposed structural reform, Director of the CEA Ricardo Triana said that they hope that this “does not continue taxing businesses, because that makes them less competitive both in the country and around the world.”
More:
http://colombiareports.co/us-businesses-fear-colombias-taxation-proposals-will-increase-tax-burden/
LBN:
http://www.democraticunderground.com/10141082903
