Colombia

Colombia has a relatively high top marginal personal income tax rate of 39% alongside a corporate income tax rate of 35%. The higher rates are typical of countries with extensive public services and social safety nets. Capital gains are taxed at a relatively low rate of 10%, making Colombia reasonably attractive for investors and those with portfolio income. Colombia taxes residents on their worldwide income, including foreign-sourced earnings. This means income from overseas employment, investments, and business activities is subject to domestic tax rates, though double taxation treaties may provide relief. Colombia permits dual citizenship, which provides flexibility for tax planning through establishing residency in a second jurisdiction without forfeiting existing citizenship rights.