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In the first part of this article, the authors carry out a critical review of the "state of the art" of so-called "tax havens. It identifies these havens and examines the consequences their use has for countries with an ordinary taxation system (hereinafter Ordinary Taxation Countries) and the tools which organizations like the Organization for Economic Co-operation and Development have been using to try to prevent the tax avoidance and/or tax elusion resulting from their use. In the second part and based on the above mentioned review, it analyzes the current status of Colombian legislation regarding tax havens and the possibilities and measures that the Colombian State could implement in order to avoid and prevent tax avoidance and tax elusion in these jurisdictions, which harm Colombia's power of taxation. [ABSTRACT FROM AUTHOR]