Tax Reform in Colombia Targets Strategic Sectors

The Colombian Minister of Finance, Germán Ávila, is preparing a progressive tax reform that will mainly tax economic sectors with greater contributory capacity.The measure seeks to generate additional revenues for the state, while maintaining fiscal equity, according to the holder of the portfolio.This policy is aligned with the commitment of the Petro government to build a fairer tax system. READ ALSO: Colombian President denounces attempted me…

The new Minister of Finance, Germán Ávila, clarified that his position does not imply contradicting President Gustavo Petro. This pronouncement modifies the traditional perception of the role of the head of the economic portfolio as a counterweight to the president in fiscal decisions. “My function will not be to be the counterdictor of the President, nor the one in charge of controlling him; on the contrary, I believe that permanent feedback wi…

The Minister of Finance, Germán Ávila, during his first press conference. Photo: Valora Analitik. The Minister of Finance, Germán Ávila, acknowledged again that the country is going through a moment of fiscal hardship and difficulties that he will have to attend, but attributed it to “factors that have to do with the delays received by the government of the previous administration.” Despite the concern that the market has shown in recent weeks, …