The Impact of Colombia’s Tax Reform: Key Protections for Foreign Investors

23 November 2022
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Key Takeaways:
  • Colombia’s first left-wing government has enacted a new tax bill, with the main provisions entering into force as early as 1 January 2023. The bill will have significant consequences for Colombian companies and foreign investors operating in the country, particularly in the oil & gas and mining industries.
  • Companies affected by the tax bill may nevertheless benefit from legal protections under Colombian or international law that could mitigate elements of the tax-reform bill or future reforms from the Colombian government.
  • Investors in Colombia should consider taking concrete action now to account for the effects of the tax reform and protect themselves against any future unlawful interference with their investments.