US EditionThe Petro Government Announces the Decrees of the Economic Emergency: More Taxes on the Superrich, Surcharge on the Financial System and Increase of Vat on Liquors and Gambling
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9 Articles
The government of Gustavo Petro has already begun to implement by decree the tax reform that the Congress of the Republic sank him a couple of weeks ago. Ministers of Finance, Germán Ávila, and of labor, Antonio Sanguino, announced this Tuesday in a press conference the new taxes that will be imposed in Colombia through the economic emergency in order to cover a part of the fiscal gap of 16 billion that has the budget of 2026. “The products of t…
The tax measure that had been rejected weeks ago by Congress.
Finance Minister Germán Ávila confirmed some of the taxes the government will decree under the economic emergency measures. Ávila indicated that the government will issue a decree within hours increasing the VAT on alcoholic beverages, including high-proof drinks like aguardiente, rum, whiskey, and brandy, from 5% to 19%. The only beverage excluded, the minister explained, will be beer due to its high level of social consumption.
The economic emergency in Colombia activates five key taxes. Know what they are, who they affect and how the tax works.
Ministers of Finance, Germán Ávila (left), and Labor, Antonio Sanguino (right). Colombian Minister of Finance, Germán Ávila, announced Tuesday an ambitious package of tax measures adopted under the economic emergency decree with which the government seeks to raise a total of $11.1 billion to meet urgent needs. According to the head of the portfolio, this decision responds to the definancing of the national budget, resulting from the refusal of a…
The government plans to raise 11.1 billion pesos in 2026 with new taxes decreed under the economic emergency. The Colombian government expects to raise 11.1 billion additional pesos in 2026 with taxes that it will decree in the context of the economic emergency declared last week to balance the “financial situation” of the country. Minister of Finance, Germán Ávila, said in a press conference that the new taxes seek to “balance the financial sit…
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