Government studying tax reductions for software firms

Monday, April 11, 2011

Colombia's government is studying tax reductions for software companies, local media outlet Radio Santa Fe reported ICT minister Diego Molano Vega as saying at a conference for local IT industry association Fedesoft.

Molano said efforts were advancing with Colombian tax agency DIAN on a proposal to reduce the tax that software companies are required to pay upon rendering services to other entities. The tax is currently 11%, and the proposal would look to drop the tax to 3.5%.

At the Fedesoft gathering, the minister discussed the government's strategy for strengthening the ICT industry in Colombia - from innovation and infrastructure, to standards and quality.

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The minister also called on companies to get involved in efforts to strengthen the ICT industry, both domestically and internationally.