Taxes in Colombia

intltax57 says on Sep 8, 2007, 05:09:

Are you asking about as an individual or corporation?

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RussianFred says on Sep 8, 2007, 06:16:

Corporation!

Annual Drug Deaths: Tobacco: 395,000, Alcohol: 125,000, 'Legal' Drugs: 38,000, Illegal Drug Overdoses: 5,200, Marijuana: 0. Considering government subsidies of tobacco, just what is our government protecting us from in the drug war?--Ralph Nader

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gringoloid says on Sep 8, 2007, 06:34:

aw, you're killin me

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intltax57 says on Sep 22, 2007, 18:13:

Sorry away for so long, and just sa your response. My info is not necessarily up-to-date; it is from the Latin American Tax Handbook 2006, which says it is generally good as of June 30, 2006. The general corporate tax rate is 35%, with a 10% surcharge applied during 2006. I don't know whether this surcharge has subsequently been renewed. There are also free-trade zone areas (and I don't know where these are) where the rate is reduced to 25%. NOLs may only be carried forward -- before 2003 losses could be carried forward five years but since then losses are carried forward 8 years. However, there is a limit of 25% of total loss carryforwards available for use in a given tax year. Although the idea of an AMT does exist in the corporate world outside the US, it apparently does not in Colombia. Hope this helps!!

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