Riesgos tributarios derivados del cumplimiento de los requisitos del Régimen ZESE en la empresa beneficiaria AGG SAS de Armenia, Quindío

Abstract

This preliminary project analyzes the tax risks and financial impact of complying with the requirements of the ZESE (Special Economic and Social Zones) regime for the trading company AGG SAS, located in Armenia, Quindío. The central research problem arises from the need to harmonize the regime's strict regulatory requirements, especially the sustained increase in the workforce, with the protection of liquidity and operating cash flow. Consequently, the general objective was established to recommend financial and tax sustainability guidelines that ensure the continuation of the tax benefit. The methodology employed is an analytical case study, based on a comparative financial evaluation (2022–2025 period) and a cost-benefit analysis of the additional payroll expense versus the savings in income tax. The main results reveal that a restrictive interpretation of the labor requirement, caused by poor advice, led the company to incur significant additional benefits costs. The benefit-cost ratio fell to 39.6% in 2025, demonstrating that the tax savings were absorbed by the permanent outflow of cash. In conclusion, although the Special Economic Zones (ZESE) regime is a valuable tool for regional employment, its corporate viability requires rigorous planning. Unplanned over-hiring undermines the tax relief, turning it into a source of financial pressure.