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Colombia hikes VAT to 19%

  • VAT
  • 29 October 2016 | Richard Asquith

Colombia hikes VAT to 19%

Colombia has proposed raising its VAT rate from 16% to 19% as part of a package of measures to prevent the country losing its BBB credit rating following the sharp fall in global oil prices.

Colombia would also introduce VAT on electronic services provided to consumer by companies based outside of the country.

This hike would be implemented on 1 January 2017.

Other measures include improved tax administration, and policies in line with the OECD BEPS project to reduced VAT avoidance.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.