The Mayor’s Office of Bogotá withdrew the project in accordance with which the tax statute of the capital was sought to reform. The proposal had been presented at the beginning of August before the District Council and He received several criticisms around his structure.
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The initiative intended to raise $ 1.26 billion a year and put on the table the establishment of some tax incentives to promote investment and employment. The focus of the proposal was also put to optimize the collection of district taxes.
Much of The repairs that had been made to this reform They were aimed at the proposed stimuli were concentrated only in the airport areas of Engativá and Fontibón, leaving out more than 20 strategic zones, such as the Tintal Axis, on July 20, the USME edge, Aranda bridge or the fairs.
Criticism also warned an increase in tax burden on merchants, entrepreneurs and consumers, for example, with the adjustment to the industry and commerce tax.
Despite the withdrawal of the initiative, sources from the District Administration confirmed to El time that they will insist again with their presentation. In that sense, A new attempt is projected in extraordinary sessions They begin on September 10.
The objective of the district is Find a technical and background discussion to achieve a agreement. In addition, to listen to the different positions of councilors and sectors of the city to reach an agreement on the structure of the proposal.
“Bogotá needs a simpler and more progressive tax structure that encourages investment and generates employment,” Ana María Cadena, District Secretary of Finance, said, who also mentioned that “These discussions are never easy, but the city deserves that this project is discussed in the Council.”
(Read more: Tax Reform: adjustments raised in income would reduce the purchase capacity)
Ana María Cadenas, Secretary of Finance of Bogotá
Key points of the initiative
The Finance District Secretariat explained some of the fundamental aspects that make up the project that awaits is discussed in the next few days. These include:
– Low the property tax for 55 % of household houses 1.2 and 3.
– The property only increases if the cadastral appraisal is greater than 2.9 billion pesos.
– Lower the industry and trade tax for 68 % of companies in Bogotáof which 93 % are micro and small.
– Reduce the Industry and Commerce Tax (ICA) from four to four rates.
– Offer Fiscal incentives for new investments both national and foreign companies.
– Modernize with intelligent technology the public lighting system and will not be charged at strata 1.2 and 3.
– Attract more than $ 77 billion for the city and generates more than 200 thousand jobs between 2025-2035.
(Read more: US Thought Center.
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