PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

599785

Primary Business Area

Investment Climate

Disclosure Date

Jan 22, 2014

Country

Colombia

Region

Latin America and the Caribbean

IFC Approval Date

Oct 22, 2013

Status

Completed

Estimated Total Budget

$2,313,701.00
(Project budget includes all project-funded activities)

Last Updated Date

Mar 8, 2022

Project Estimated End Date

Sep 30, 2016

Project Description

The objective of the project is to assist the Government of Colombia to improve the institutional, regulatory, and administrative framework for business taxation. The project works with clients at the national and subnational level including, the Ministry of Finance, the National Tax Administration (DIAN), the Chamber of Commerce of Bogota and the Bogota Secretary of Finance; the Chamber of Commerce of Cali and the Municipality of Cali. The project will provide specific support in the following broad three areas: 1. Assisting the government with the implementation of the New Tax Reform at national and sub-national level to encourage tax compliance of businesses. 2. Rationalizing and simplifying the business taxation regime to reduce compliance burdens for businesses at both national and sub-national level. 3. Reviewing and establishing a new simplified MSME (micro, small and medium enterprise) tax regime and procedures to help lower barriers to voluntary compliance and encourage formalization. This project is part of a broader program implemented in Latin America and the Caribbean in partnership with the Governments of Canada and Switzerland.

Development Results

E&S Risks / Impacts and Mitigation