US businesses fear Colombia’s taxation proposals will increase tax burden

[Judi Lynn]

Source: Colombia Reports

May 1, 2015

US businesses fear Colombia’s taxation proposals will increase tax burden
posted by Alice Bradshaw-Smith

US companies holding business in Colombia are concerned over the possibility of new taxes that could emerge from a reform currently being considered by a group of experts selected by the government.

This sentiment was aired at Wednesday’s annual meeting of the American Business Council (CEA), an organization that brings together 125 US companies present in Colombia.

Company representatives highlighted at the event that American firms operating in the country generate more than 7% of Colombia’s gross domestic product, and a similar percentage of the taxes collected. Last year, the companies invested more than $15 million into the country.

Referring to the proposed structural reform, Director of the CEA Ricardo Triana said that they hope that this “does not continue taxing businesses, because that makes them less competitive both in the country and around the world.”

Read more: http://colombiareports.co/us-businesses-fear-colombias-taxation-proposals-will-increase-tax-burden/

[NancyDL]

1. So is the US Gov't going to blockade Columbia

or attack Columbia to keep that country from raising its taxes? Did you know that this is what all these new treaties allow?

[Judi Lynn]

2. No!Did not.I'd better get busy getting informed, because I had no idea. It's wrong. Thanks. n/t

[quadrature]

3. appears to be a translation problem ...

correct translation is..

bigger bribes are being demanded

[asiliveandbreathe]

4. So - Columbia raises taxes on corporations...corporations lose profit - with TPP

they could sue Columbia for loss of profit - am I off base here...corps reap profit..citizens of any country lay in their wake of destruction....am I off base here??

[Monk06]

5. You are not off base. That is exactly what TPP is designed to do. Deprive all countries that sign

of the ability to tax International Corps or do anything in the way of social or economic policy that would effect their profits. That's wages, paying for infrastructure they use in country, or the general welfare of the host country.

It is a corporate coup starting with the Pacific Rim.

They don't even want to chase the lowest wage any more. The want it barely subsistence level everywhere.