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Tax Reform, key for the Government of President Petro

Ajeet Nandwal by Ajeet Nandwal
September 7, 2022
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The discussion of the Tax Reform project in the economic commissions of Congress is progressing and it is expected that next week the paper will be ready for the first debate.

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The Minister of Finance, José Antonio Ocampo, has reiterated that the keys to the project are based on the payment of more taxes by the richest Colombians, a contribution to oil and coal exports, and proposes a reduction in exemptions.

The reform establishes that in the case of natural persons with incomes above $10 million per month they will have to pay more, it incorporates indicative and non-binding cost caps for the end of auditing and pensioners with incomes above $10 million per month will have a tax.

Likewise, the elimination of exempt income, inheritances and donations, a tax on sugary drinks is proposed, and changes to super-processed foods are being evaluated.

Among the proposals that are being evaluated is the possibility of increasing the surcharge on the financial sector from 3 to 5%.

The Minister of Finance, José Antonio Ocampo, has explained in all its tones that the goal of tax collection cannot be changed and that the goal for next year is to collect $25.9 billion.

The National Government hopes that next week the presentation for the first debate in the economic commissions of Congress can be ready.

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Ajeet Nandwal

Ajeet Nandwal

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