Minhacienda Announces Simple Regime Changes

Minhacienda Announces Simple Regime Changes

Finance Minister José Antonio Ocampo assured that changes to the simple regime will feed into the work to present the tax reform.

“It will try to expand and bring more benefits to companies that benefit from the Simple Regime. It is one of the most interesting issues yet to be discussed,” Ocampo said.

With these changes, the Simple Regime is intended to be a tax formalization mechanism as part of an overall business formalization process.

He confirmed that the 5% surcharge for the banking sector is temporary for five years.

In addition, it has been agreed to create a subcommittee that will draw up the criminal sanctions that are applied in the event of tax evasion.

“Once there is agreement on the phrasing of the criminal, there will be a meeting on Monday to approve the paper. There are about ten articles that have changes,” he said.

The paper’s first debate is expected to take place next Wednesday.

Source: El heraldo