Double taxation treaty between Spain and Colombia approved
October 22, 2008
The new tax treaty between Spain and Colombia contains transfer pricing implications. Here Moises Curiel and Diego Gonzalez-Bendiksen of Baker & McKenzie outline the treaty elements.
The treaty will come into force on October 23 and is seeking not only to strengthen, but also to increase the investment relations between the signing countries. The treaty will also reinforce a stable legal background for investors in both countries and will constitute a major advance in the efforts against tax avoidance. Nevertheless, the effects of the treaty on the income and net worth taxes will become effective as of January 2009.
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