This report is part of the OECD Tax Policy Reviews publication series. The Reviews
are intended to provide independent, comprehensive and comparative assessments of
OECD member and non-member countries’ tax systems or zoom in on a specific tax policy
topic. This report provides an in-depth assessment of Colombia’s tax expenditure reporting
practices and makes specific recommendations as to how the measurement of tax expenditures
and their reporting can be improved. In particular, the review introduces a benchmark
for the corporate and personal income tax and the value-added tax and calculates revenue
forgone from income tax expenditures.