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Digital and gambling taxation: Draft rules extend VAT and consumption tax to online gambling operators, remove exemptions for cloud computing, hosting, and software licenses, impacting non-resident providers and B2C customers significantly.
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VAT compliance changes: Filing frequency would shift to bi-monthly for all suppliers, while the input VAT creditability window reduces from eight to six months, tied to economic transaction timing.
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Large taxpayers and imports: Large taxpayers must self-charge VAT on taxable services imported into Colombia, while the “de minimis” exemption for low-value shipments is eliminated, broadening the VAT collection base.
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Sector-specific tax hikes: Proposals include raising fuel oil taxation, applying a 19% consumption tax to cultural and recreational events, and taxing music festivals and sports, aimed at addressing fiscal imbalances.
Source: PwC
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