April 2017 JD Supra

On 12/29/2016, Colombia’s Congress approved “Law 1819 of 2016”.  The new legislation is a structural tax reform primarily aimed at increasing revenues for Colombia.

Colombia suffered a loss of revenues when crude oil prices plummeted beginning in 2014. The loss of revenue created a negative impact on its economy; creating pressure to replace revenues previously sourced from oil activities.

https://www.jdsupra.com/legalnews/colombia-criminalizes-tax-evasion-72714/