Colombia is a beautiful country, known for its unique biodiversity, natural landscapes, and cultural richness. It is the fourth largest economy in Latin America, and frequently serves as a regional operations platform for South America, Central America, and the Caribbean. However, tax rules in the country can be problematic. Foreign entrepreneurs providing consulting, technical, management, or administration services to local residents or businesses are subject to withholding tax at rates between 20% and 33%. Foreign providers of streaming services, online ads, data management, and digital goods may be subject to a gross tax based on sales that is triggered by reason of having a significant economic presence in the country. Other foreign companies may trip into worldwide tax exposure if Colombia is viewed to be the effective place of management of the company. The threshold for this risk is low as the risk potentially exists from short-term presence in Colombia by executives or employees. Finally, the standard under which an individual is viewed to be tax resident is not straightforward. In his article, Eric Thompson, a partner of attorneys Cañón Thompson, Bogota, identifies the various areas of risk and cautions that companies trading with Colombia or individuals who move to Colombia require careful advance planning.