Colombia

Colombia has significant natural resource wealth which is critical to its economy. The mining industry contributes considerably to Colombian government revenues through corporate income tax and mining royalties. Colombia’s mining sector scores satisfactory in the Resource Governance Index 2017.

Main Minerals

  • Coal
  • Gold
  • Emeralds
  • Nickel
  • Petroleum

What Are We Doing in Colombia?

In 2020, we started working with DIAN, the Ministry of Mines and Energy, and Ministry of Finance and Public Credit on improving revenue collection from the mining industry.

Legal and Policy Support

We are reviewing their tax treaty network, tax incentives granted to the mining sector, and the Colombian regulatory framework to address BEPS risk for the mining sector.

Trainings

We are developing guidance on pricing strategic minerals in Colombia. We are delivering trainings on financial transactions, offshore hubs, tax treaties, and mineral valuation. 

Audit Support

We are supporting DIAN on improving their risk assessment framework and case selection, and their training and auditing processes through the Tax Inspectors Without Borders program.