The Taxation of Income from Business and Capital in Colombia PDF Download
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Author: Charles E. McLure
Publisher: Fiscal Reform in the Developin
ISBN:
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
"Over the years Colombian tax officials have received the benefit of first-class advice of leading foreign scholars. In return, these scholars--and indeed everyone concerned with development policy--have gained a great deal both from the unusual willingness of Colombians to consider new ideas in detail and then, after full public discussion, drawing on the work of these experts to design a 'made-in-Colombia' solution. "[The book's] most important contribution, however, is undoubtedly with respect to consumption taxes. No one, anywhere, has thought through with such care just how the so-called 'simplified alternative tax' (essentially a direct personal consumption tax combined with a cash-flow corporate tax) might work in the real world. Since such taxes are increasingly being considered--if not adopted--all over the world, in developing and developed countries alike, for this reason alone this book should be high on the reading list of all those concerned with the design and implementation of efficient and equitable direct tax systems."--From the Foreword by Richard M. Bird
Author: Charles E. McLure
Publisher: Fiscal Reform in the Developin
ISBN:
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
"Over the years Colombian tax officials have received the benefit of first-class advice of leading foreign scholars. In return, these scholars--and indeed everyone concerned with development policy--have gained a great deal both from the unusual willingness of Colombians to consider new ideas in detail and then, after full public discussion, drawing on the work of these experts to design a 'made-in-Colombia' solution. "[The book's] most important contribution, however, is undoubtedly with respect to consumption taxes. No one, anywhere, has thought through with such care just how the so-called 'simplified alternative tax' (essentially a direct personal consumption tax combined with a cash-flow corporate tax) might work in the real world. Since such taxes are increasingly being considered--if not adopted--all over the world, in developing and developed countries alike, for this reason alone this book should be high on the reading list of all those concerned with the design and implementation of efficient and equitable direct tax systems."--From the Foreword by Richard M. Bird
Author: Sarah Perret
Publisher:
ISBN:
Category : Colombia
Languages : en
Pages : 31
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Book Description
The Colombian corporate tax system is highly complex and distortive. The effective tax burden on businesses is very high due to the combined effect of the corporate income tax, the corporate surtax introduced in 2012 (CREE), the net wealth tax on business assets and the value added tax (VAT) on fixed assets. Indeed, in addition to high statutory taxes on corporate income, formal sector businesses are subject to a wealth tax on their net assets and to a production-based VAT system under which VAT paid on the purchases of fixed assets is not creditable against output VAT. Calculations in this paper find that the total marginal effective tax rate reaches about 60% for equity-financed investments. Such a high effective corporate tax burden is likely to deter investment and to further encourage tax evasion in the future and therefore calls for a fundamental business tax reform. This paper also reviews the other key elements of the capital income tax system in Colombia. This Working Paper relates to the 2014 OECD Economic Survey of Colombia (www.oecd.org/eco/surveys/economic-survey-colombia.htm).
Author: Colombia Information Service
Publisher:
ISBN:
Category : Investments, Foreign
Languages : en
Pages : 18
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Book Description
Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 149831189X
Category : Business & Economics
Languages : en
Pages : 16
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Book Description
This Selected Issues paper examines the impact of the Financing Law on both tax revenues and the economy. This paper assesses the main tax measures introduced by the law and their dynamic impact on tax revenue through macroeconomic transmission channels. Despite various reforms in recent years, non-oil tax revenues in Colombia remain comparatively low. The Financing Law should raise tax revenues in 2019 but will likely create shortfalls thereafter. The model-based simulations point to sizeable increases in private investment. The simulations suggest that the Law could boost medium-term growth by around 0.2 percent of GDP but will reduce tax revenues by over 1/2 percent of GDP in the medium term. The key channel is through a lower corporate burden through lower corporate income tax and allowing input credit for value added tax on capital goods. The analysis finds that the Law may boost medium-term growth by around 0.2 percent of GDP, but it may lead to future tax revenue shortfalls starting in 2020.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Mansoor Dailami
Publisher: World Bank Publications
ISBN:
Category : Capital investments
Languages : en
Pages : 59
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Book Description
To sustain expansion of private business investment, Colombia should consider an investment tax credit, frequent forecasting of business variables (to reassure businessmen of the favorable climate for investment), a shift from historical cost accounting to replacement cost accounting, and preferential treatment for small and medium-size firms in the allocation of available capital.
Author: Harvard Law School. International Program in Taxation
Publisher:
ISBN:
Category : Taxation
Languages : en
Pages : 640
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Book Description
Primarily the work of the staff, the following former staff members, and correspondent : George Jackson Eder, John C. Chommie, and Hector Julio Becerra.
Author: Colombia. Comisión de Reforma Tributaria
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 884
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Book Description
Author: Richard Miller Bird
Publisher: Cambridge, Mass. : Harvard University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
Author: Joint Tax Program of the Organization of American States and the Inter-American Development Bank. Fiscal Mission to Colombia
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
