Update - Colombia Tax Relief Measures for COVID-19 and Solidarity Tax

Further to the measure previously reported, Colombia has implemented several additional measures in response to the COVID-19 pandemic. Some of the main measures include the following:

• An exemption from the 0.4% financial transactions tax for non-profit entities belonging to the special tax regime on withdrawals of funds from checking or savings accounts in order to provide assistance for needy individuals;
• A VAT exemption on donations of goods, clothes, cleaning supplies, medicines, construc…