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Other Incentives

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Sector specific benefits

  • Incentives for hotels and tourism sector

Income from services provided in new hotels built, renovated or extended, will be taxed with a rate of 9% for a term of 20 years.
Requirements: municipalities of up to 200.000 inhabitants. Project takes place during the 10 years after the entry into force of the financing law (January 1, 2019)

New theme parks, ecotourism, agrotourism and new boat docks built in municipalities of up to 200.000 inhabitants, during the 10 years after the entry into force of the financing law will have a rate of 9% for 20 years. If the previously mentioned activities are made in municipalities with more than 200.000 inhabitants, during the 4 years after the entry into force of the law, a tax rate of 9% will apply for 10 years.

Colombia offers income tax exemptions in the sectors mentioned below. This benefit allows companies to pay 0%, instead of the general rate of 33%.

  • Use of exempt income in agricultural projects and orange economy.
  • Income associated to Social Housing (VIS for its acronym in Spanish) and Housing of Priority Social Interest (VIP for its acronym in Spanish).
  • Sale of electric power generated with wind power, biomass, solar, geothermal or generated by the sea movement as long as the carbon dioxide emission certificates are processed, obtained and sold in accordance with the terms of the Kyoto Protocol. Additionally, 50% of the resources obtained from the sale of said certificates shall be invested in works of social benefit in the region where the generator operates.
  • River transportation services in low draft vessels.
  • Regime of holding companies in Colombia (CHC). For Colombian companies who have as company purpose the holding of securities, the investment or holding of shares or participations in Colombian or foreign companies, or the management of those investments. The income from the sale or transfer of shares or participations in a CHC is exempt, except for the value corresponding to the profits obtained by activities carried out in Colombia.
  • Mega investments. Is a special tax regime for 20 years for all the taxpayers of the income tax who generate at least 250 direct jobs and make new investments equal to or higher than 30.000.000 UVT (COP$1. 028.100.000.000 for 2019 approx. USD $342.000.000) within the national territory.

The benefits include a special income tax rate of 27%, exclusion of the presumptive income regime, exclusion of the dividends tax, benefits in terms of depreciation of assets and exclusion of the equity tax.

Additionaly, for this investments a stability regime is created to keep the benefits in case of legal unfavorable changes in exchange for a premium of 75% of the value invested in each year during 5 years

  • Incentive on capital goods:

0% tariff for the importation of capital goods and raw materials not produced in the country. Possibility of deducting from the income tax the VAT paid for the acquisition, construction, training and import of productive real fixed assets.

  • Incentives to investment and donations for Scientific and Technological Development:

Income taxpayers who directly or indirectly invest in, or give grants to, projects qualified as technological research and development can deduct the entire amount of their investment in the taxable year in which said investment was made. Additionally the investor may discount 25% of the invested value in the same taxable year in which it was made.

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