Colombia MOF Announces Bill to Enact 2026 Financing Law

The Colombian Ministry of Finance and Public Credit Sept. 5 announced a bill to enact the 2026 Financing Law. The bill includes measures to: 1) increase to 19 percent from 5 percent the VAT rate for hybrid vehicles, including imported vehicles valued at more than $30,000 USD, and adjust the VAT rates for nonresident housing and online gambling to 19 percent; 2) tax specified digital services; 3) allow nonresidents to declare and pay a 5 percent tax on gross income from supplies of digital goods and services to domestic users from abroad; 4) increase to 30 percent from 20 percent ...