Colombia's tax administration recently issued clarification on the application of CREE, a fairness tax introduced in 2012 and applied in 2013. The CREE tax applies to both resident companies and non-resident's permanent establishments (PE) in Colombia, excluding PEs of individuals. The Cree tax rate is 9% for 2013, 2014 and 2015, and will be reduced to 8% from 2016. When applicable, the CREE tax …