Colombia: Entrepreneurs who invest in science and technology could receive tax breaks

In fostering science, technology and innovation, the Colombian government approved a COP one billion appropriation in tax benefits for those entrepreneurs who certify investments in these sectors.

Companies could reap benefits of up to COP 90 billion. In order to be considered, companies must fill out a form available at the Colciencias website starting in April 2019.

Last year, the National Council on Tax Benefits certified a total of COP 640 billion in science, technology and innovation projects, allowing 167 companies to develop new products, processes and prototypes.