DECREES OF THE MINISTRY OF FINANCE
Entry into force of the Double Taxation Agreements subscribed by Colombia with the Czech Republic and the Republic of Portugal
Decrees 331 and 336 of February, 2016, issued by the Ministry of Finance.
By issuing its Decrees No. 331 and 334 of February 24th, both Double Taxation Agreements (DTA’s) entered into force.
The purpose of these kinds of international treaties is to avoid double taxation and to prevent tax evasion. Generally, withholding tax rates applicable in accordance with the DTA’s are lower than those provided in the domestic law, with respect to certain items of income derived from a Colombian source such as dividends, interests and royalties.
The Agreement with the Republic of Portugal was signed the 30th of August, 2010, and the Agreement with the Czech Republic was subscribed on March 22nd, 2012.