Expected Tax Reform
It is expected that the Government will file before Congress the structural tax reform bill in October. The scope and text of the tax reform remains unknown and up to now only the recommendations provided by the committee of tax experts are available and those are not binding. However, it has been said by public officials that the tax reform would have four pillars:
- To unify the income tax and the income tax on fairness (CREE) and to create a sole tax on profits and possibly, a tax on dividends;
- Tackle the abuse of non-profit organizations that don't have philanthropic destination and used for tax evasion purposes;
- To implement more anti-avoidance measures;
- To definitively faceoff the wealth tax.
In the context of an upcoming peace referendum and with the expectation of attracting more inbound investments, the tax reforms seems to be imminent.