Through Law 2095 of 2021, the "Agreement between the Republic of Colombia and Japan for the Elimination of Double Taxation with respect to Income Taxes and the Prevention of Tax Evasion and Avoidance and its protocol", was approved by Congress. Said agreement was signed between Colombia and Japan to strengthen their economic relationship and improve their cooperation in tax matters. 

This agreement seeks to eliminate double taxation with respect to income taxes and to prevent tax evasion and avoidance, for individuals who are tax residents in one or both contracting States. This includes income obtained by or through an entity or arrangement that is considered to be wholly or partially transparent under the tax laws of these countries, exclusively when the income is of a resident of these States.

Thus, this agreement contemplates the activities to which these provisions will apply, which include real estate income, business profits, international navigation and air transportation, dividends, interest, royalties and capital gains, among other income.