Colombia
The measures adopted by the Government will have a significant economic impact on some taxpayers if they pass the review of the Constitutional Court
Key Aspects
- Temporary tax measures and strict constitutional control.
- Temporary tax of 1% on the extraction, sale, and export of crude oil and coal, with a threshold of 50,000 UVT.
- Transitional Wealth Tax Regime 2026: includes legal entities, bases, exclusions and rates.
- VAT on games of chance operated only on the internet; generating event: deposits; also non-resident responsible.
- GMF temporarily rises to 5 per thousand in 2026; adjustments in taxes on the consumption of liquor and tobacco.
- High probability of unenforceability: there is no supervening event; there are ordinary alternatives that are less burdensome.
- Refund of the taxes collected, once the unenforceability of the decrees is determined, would depend on what the Court indicates.