With a view to attracting investment from France to Colombia, the agreement to avoid the double taxation that the two countries signed in 2015, that was approved by the Congress of the Republic in 2020 was recently declared enforceable by the Constitutional Court.
(France imposes a minimum price on the distribution of books to stop Amazon).
“This being the case, we already have three winning tools that guarantee stability in the rules of the game for French entrepreneurs who want to do business with Colombia: a Trade Agreement within the framework of the European Union that has been in force since 2013, one for Protection and Reciprocal Investment Promotion in force since October 2020 and now the one that seeks to avoid double taxation. With these mechanisms, more efficiency, more stability and more clarity are guaranteed for French entrepreneurs who want to bring their capital or expand the investment they already have in Colombia. Today we are more attractive “said the Minister of Commerce, Industry and Tourism, María Ximena Lombana Villalba.
The tax agreement with the European country aims to avoid double taxation and prevent tax evasion and avoidance, with respect to income and wealth taxes.
At the time, Dian pointed out that it is a fundamental instrument to remove the obstacles created by international double taxation to trade, investment and exchange in general between the two countries. It is a fundamental tool for international cooperation between the tax authorities of both countries to, together, fight more vehemently tax evasion and avoidance.
(Duque’s international tour left resources of US $ 3.5 billion).
The Minister recalled that in the accumulated between 2000 and September 2021, France registered a flow of foreign direct investment in Colombia of US $ 3,287.8 million. This year, until September, that country ranked 17th among all the countries with the highest investment in Colombia.
In addition, there are more than 200 French companies that have investment in Colombia in sectors such as pharmaceuticals, retail, industrial gases, hotels, financial, automotive, electrical appliances, cosmetics, food services, among others.
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