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The Proposal that Seeks to Eliminate Vat in Colombia and Replace It with u.s. Tax.
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Senator Alejandro Chacón of the Liberal Party presented a bill that seeks to eliminate VAT of 19% and replace it with a new tax: a consumption tax with a single rate of 8%. “The idea is to eliminate one of the most complex mechanisms of the tax statute and to unify the rules to tax goods and services with a single rate,” said Chacón. According to the congressman, the bill would simplify the tax system, since it would eliminate the figure of the …
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