OECD Urges Reform of ‘Inefficient and Regressive’ Colombia Taxes

Colombia’s tax system is “inefficient and regressive,” the Organisation for Economic Co-operation and Development said, advising the country to impose levies on dividends and carbon emissions while easing the burden on companies.

The Andean nation’s current tax policies discourage investment and job creation and limit access to financial services, the OECD said in its economic survey of Colombia published today. Colombia is seeking membership of the Paris-based organization, which advises governments on economic policy.