Colombia Simplifies Taxes For Fixed Rate Investors

By ExpatBriefing.com Editorial 05 November, 2013

Colombia has simplified its system for calculating taxes paid by those investing in fixed-rate securities, with the intention of reducing distortions and overcharging, the country's Finance Ministry revealed on October 31, 2013.

Streamlining the system will reduce the tax levy and attract additional investment to the fixed-rate market, the country's biggest attractor of overseas investment into its capital markets.

"Simplifying the rules possibly may lead to brokerages and overseas investors that previously weren't in the public debt market to come to see it as easier to enter," Michel Janna, the head of the Finance Ministry's public credit office said to Reuters.

Foreign investment in Colombia's public debt market only accounts for 6 percent of the total, compared with 57 percent in Peru, nearly 40 percent in Mexico, and 15 percent in Brazil.

Tags: Finance | Tax | Investment | Capital Markets | Colombia | Expats |

 





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