“The biggest barrier to investment is double taxation”: Mark Menzies, commercial envoy of the Prime Minister of the United Kingdom for Colombia

“The biggest barrier to investment is double taxation”: Mark Menzies, commercial envoy of the Prime Minister of the United Kingdom for Colombia

Mark Menzies is the trade envoy of the Prime Minister of the United Kingdom for Colombia, Peru and Chile, and in the visits he has made in the country, businessmen have highlighted the greatest need: that the agreement be applied to eliminate double taxation, which at the moment is the biggest barrier for British investments to reach the economy. Along with this, Menzies makes it clear that companies in his country are interested in some sectors such as agriculture, tourism, oil and gas, and infrastructure, areas in which they believe they could support.

One of the biggest barriers is the lack of application of the agreement to eliminate double taxation. It is something that has been identified and what governments are working on. There have been many meetings with people who have commented on this need, because this sends a very important signal to the British companies that Colombia is a place where it can be invested, where there is a good return and that the barriers are being demolished.

There is a wide range of projects in which the United Kingdom is already working, adding another aspect in which the United Kingdom has a great experience is in the subject of human development and its training for all types of projects. For example, in the hospitality sector (hotels and restaurants) there are opportunities to train, which would create the basis for a very productive tourism industry.

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