Update - Colombian Tax Reform Legislation Moving Forward in Congress with Revisions

The Colombian Chamber of Representatives and Senate (lower and upper houses of the Congress) are reportedly moving forward for plenary votes on revised tax reform legislation approved in the first debate earlier in October. As previously reported, the tax reform legislation includes increased dividend tax, a new wealth tax, rules for taxing a significant economic presence, and other changes. Some of the additional/revised measures of the reform as revised include:

• New and increased income ta…