US EditionColombian Fiscal Decree Sparks Backlash and Stirs Economic Anxiety
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Colombian Fiscal Decree Sparks Backlash and Stirs Economic Anxiety
Colombia's Treasury has ordered companies and high-earning professionals to pre-pay next year’s income taxes—cash the government wants in its vaults before September. Officials promise the move will plug a yawning deficit, but business owners warn it could drain working capital and chill investment. The post Colombian Fiscal Decree Sparks Backlash and Stirs Economic Anxiety appeared first on LatinAmerican Post.
The estimates of the Institute of International Finance estimate that the indicator reaches -7% of GDP. Photo: IIF. The Institute of International Finance (IIF) pointed out in its Vision LatAm report that Colombia " urgently needs a credible fiscal plan to restore market confidence and avoid further pressure on credit rating" because it is at a turning point.
The Colombian Federation of Entrepreneurs of Lucky Games and Azar (Fecoljuegos) expressed its concern and rejection of the recent decree issued by the National Government, which imposes the obligation to advance the payment of the income. According to the union’s statement, “this measure adds to a series of disproportionate fiscal decisions that are [...] La entrada Fecoljuegos warns impact of new fiscal measures in the sector aparece primero en…
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