|
Post by gallito on Nov 9, 2015 19:40:43 GMT -5
Colombia's government is planning to propose a structural tax reform bill to Congress in March next year, Finance Minister Mauricio Cardenas said on Monday, as the country confronts a fall in national income amid low crude prices.
Details of the proposal are being fine tuned by an expert commission, which will present a report before the end of the year, Cardenas told journalists.
"With those elements, with that input, we will create a dialogue with all the involved sectors and be able to present a structural tax reform law in March of next year," he said.
The reforms will seek to increase the pool of tax contributors, among other changes.
The commission said in a preliminary report earlier this year that the Andean country will require urgent tax reform to make up for an almost $9 billion loss in income to 2020.
The experts added that reform will be key to compliance with the country's fiscal rules, which impose a fiscal deficit limit.
Colombia has been battered by the fall in prices for crude oil, its biggest export and source of foreign exchange.
Lawmakers approved an extension of wealth taxes and increased profit duties for companies in a reform passed late last year.
Read more at Reutershttp://www.reuters.com/article/2015/11/09/colombia-tax-idUSL1N1341CC20151109#3L0TfOSPAIOxmcCs.99
|
|
|
Post by barrumundi on Nov 9, 2015 19:54:07 GMT -5
"The reforms will seek to increase the pool of tax contributors, among other changes."
There is a lot of people in Colombia who don't pay taxes.
|
|