Based on recent news published by the media (unofficial), below is a summary of the main points to be included in the new tax reform proposal:

• Corporate Income Tax
  The proposal includes a gradual reduction of the Corporate Income Tax rate from 35% to 30% (1% reduction every year). In addition, an additional 3% reduction is set to apply for micro and small enterprises.
   

• Minimum Taxation Rate
  The minimum tax rate would increase from 15% to 20%. Note, however, that the 2022 rule that created this minimum rate is currently under review before the Constitutional Court.
   

• Régimen SIMPLE (Simplified Taxation Regime)
  The SIMPLE regime would be eliminated. Instead, a marginal rate system would apply based on the taxpayer’s level of income.

• Wealth Tax
  Unproductive assets would be subject to the current permanent wealth tax created by the 2022 tax reform. 
   

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  Capital Gains Tax
  The Capital Gains Tax rate would increase from 15% to 20%.
   

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  VAT and Renewable energy projects
  Games of luck and chance would be taxed with VAT. 

  In the renewable energy sector, the proposal includes the creation of a tax bonus for investments in renewable energy, to replace the VAT exclusion on goods and services with a VAT exemption, , and to increase the carbon tax rate.
   

• Tax avoidance
  Incentives would be granted to people who report tax evasion.
   

• Flexibility of the Fiscal Rule
  The Fiscal Rule will be relaxed to to encourage public investment.
   

• Overdue tax debts
  Discounts will be offered to taxpayers who pay their outstanding tax debts.
  
  Please note that this is a preliminary summary based on information made public by the Government, but may be subject to material changes at the time the draft law is submitted with Congress. 
  
  If you have any questions regarding the scope and application of the particular issue, please do not hesitate to contact us.