Contributed By Baker McKenzie S.A.S.
The Colombian Tax Code established that non-profit corporations, foundations and associations are subject to a special tax regimen with respect to income tax (20% rate) and complementary taxes provided that they always comply with the following conditions:
25% of the gifts made to entities of the special tax regime can be credited for income tax purposes. However, the above-mentioned requisites must be met.
Ave Calle 82
No 10- 62 piso 7
Bogotá, D.C. 110221
+57 1 634 1500
+57 1 376 2211www.bakermckenzie.com