International Finance Corporation (IFC) is assisting Colombia in
undertaking tax reforms to reduce the complexity associated to
complying with business taxation obligations.
IFC has conceived an advisory project to help Colombian Government to
improve the institutional, regulatory, and administrative framework
for business taxation.
In a recent disclosure, IFC says: "The
project works with clients at the national and subnational level
including, the Ministry of Finance, the National Tax Administration
(DIAN), the Chamber of Commerce of Bogota and the Bogota Secretary of Finance; the Chamber of Commerce of Cali and the Municipality of Cali."
The project will provide specific support in three areas:
1)
assisting the government with the implementation of the new tax reform
at national and sub-national level to encourage tax compliance of
businesses;
2)
rationalizing and simplifying the business taxation regime to reduce
compliance burdens for businesses at both national and sub-national
level and
3)
reviewing and establishing a new simplified MSME (micro, small and
medium enterprise) tax regime and procedures to help lower barriers to
voluntary compliance and encourage formalization.
The project is part of IFC's broader programme implemented in Latin
America and the Caribbean in partnership with the Governments of Canada
and Switzerland.
The ultimate aim of the project is to generate facilitate compliance
cost savings and encourage compliance amongst businesses, especially
MSMEs in Colombia.
|
