David Rosenbloom Talks to Tax Notes on Colombia's Tax System
A commission of experts says Colombia’s tax system is “excessively complex” and “out of step with international standards,” and needs to be reformed to restore efficiency and equity and raise more revenue.
The commission presented its findings and recommendations during a March 18 webcast hosted by the National Directorate of Taxes and Customs (DIAN). OECD Senior Tax Economist Bert Brys said tax expenditures introduced over the years to address the country’s structural economic deficiencies have largely failed.
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“The system requires and demands a form of shock therapy,” said commission Member David Rosenbloom of Caplin & Drysdale, who is also head of the international tax program at New York University. “This is not going to be something that is achieved in a short period of time; this is something that is going to take years.”
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