With Colombia's tax reform Law 1739, generally effective from 1 January 2015, the rate of income tax on Colombia source income derived by nonresidents without a permanent establishment or branch in the country is increased from 33% to the following rates:

• 2015 - 39%
• 2016 - 40%
• 2017 - 42%
• 2018 - 43%

When a nonresident does have an establishment in Colombia, the standard corporate tax rate of …