Bogotá plans to abolish three taxes and fees to attract investment.

        According to a report from Colombia's Valora Analitik website on August 5, the Bogota municipal government submitted a tax reform proposal, planning to cancel three types of taxes and fees including the outdoor advertising tax, the Unified Poverty Fund and the gambling and performance tax, so as to reduce the burden on enterprises and entrepreneurs and attract more investment. In addition, the municipal government plans to add a new real estate tax surcharge to provide funds for the construction of the smart lighting system, including projects such as LED street lamps, video surveillance, environmental sensors and artificial intelligence emergency monitoring.
Source: Economic and Commercial Office of the Embassy of the People's Republic of China in the Republic of Colombia