Colombia Is Committed to Tax Reform that Disturbs Businesses and the Middle Class

Bloomberg Linea

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The government presented its third tax reform with the goal of raising about COP$26 billion, an ambitious figure in the midst of a growing deficit. However, beyond the projected amount, analysts agree that the initiative lacks a structural approach and reproduces old vices of the Colombian system: high burden on companies, pressure on consumption and measures questioned by its regressive impact. SEE MORE: Tax reform hardens taxes on investments …

La Silla Vacía

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President Gustavo Petro presented his third tax reform proposal, which he claims is “against the rich and progressive” although the text of it says quite the opposite, it is “against the people and neoliberal.” The new tax reform proposal seeks to raise, as never before, more than $26 billion pesos next year and in just 5 years, from 2026 to 2030, estimates to raise more than $159 billion pesos from the Colombians’ pocket. Collection that will c…

Valora Analitik

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Ex-Ministers of Finance Diego Guevara, José Antonio Ocampo, Alberto Carrasquilla and José Manuel Restrepo (left to right). Photo: EIA University Colombian finance ministers from the last administrations are not convinced by the tax reform project that the Petro government had last Monday in the Congress of the Republic, although they all agree that it will be necessary to make adjustments to the tax statute.