Colombia Should Reform Tax System to Boost Growth, OECD Says

Colombia should improve compliance and rebalance the tax burden from corporate to personal income to improve stagnating economic growth, according to the OECD.

Reducing business informality and regulatory barriers could boost private investment and help Colombia tackle its sluggish economic growth, the Organization for Economic Development and Cooperation said, in its 2024 economic survey of the country, published Sept. 17.

• “This requires comprehensive reforms, including lowering the corporate tax rate, facilitating access to affordable credit, and fostering a stable and predictable policy environment,” the OECD said.
• The government should also tackle rising public debt, it added. “Improving spending efficiency ...