Luxembourg’s Council of State has given its approval for the ratification of the income and capital tax treaty with Colombia on 4 February 2025.
Earlier, Luxembourg’s Government Council approved the ratification of the income and capital tax treaty with Colombia on 13 December 2024.
The agreement was signed on 19 January 2024. It seeks to eliminate double taxation with respect to taxes on income and on capital and the prevention of tax evasion and avoidance.
The treaty will take effect after the exchange of ratification instruments and will be applicable starting from 1 January of the year following its entry into force.