Tax in Colombia
Only 5 per cent of Colombians pay income tax, according to the OECD. Revenue from personal income tax is worth just 1.2 per cent of gross domestic product compared to an OECD average of 8.1 per cent. Taxes on businesses, on the other hand, are
relatively high. The outgoing right wing government of Iván Duque initially cut the corporate tax rate from 33 to 31 per cent. But when the coronavirus pandemic hit, followed by prolonged street protests against his rule, he was forced to raise it to 35 per cent, its highest level in 15 years and above the Latin American average.
Everything old is new again
The share of new music continues to shrink in the face of competition from old songs. The latest from researcher Luminate shows that the consumption of old music grew another 14 per cent during the first half of 2022, while demand for new music declined an additional 1.4 per cent. These old tunes now represent 72 per cent of the market. And that's not even taking into account the resurgence of Kate Bush/Metallica after their songs appeared on Stranger Things. The current list of most downloaded tracks on iTunes is filled with the names of bands from the last century, such as Creedence Clearwater and The Police. There's also talk of it being the golden age of the ageing actor. Harrison Ford, who is 80 this week, will soon show up in another Indiana Jones movie and Top Gun, with Tom Cruise reprising his role from 1986, is the biggest box office success of the year. Read more at The Honest Broker.
