Experts warn a hole in the nation’s finances by 2026 if this proposal advances.
José Manuel Restrepo, former Minister of Finance, expressed concern about the serious repercussions that the proposal of the Ministry of Finance could generate in small and medium enterprises, which would be the most affected by the measure of advance the collection of taxes of 2026 For this year.
Restrepo described this initiative as “riding the tax revenues of 2026 to square the box in 2025 at the expense of milking the productive sector”, since “this will generate a Cash stress in 2025 in the micro, small and medium enterprises that will have to borrow to pay those additional taxes”
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The draft decree contemplates a substantial increase in the self -retention rate, which for many companies will represent an excessive increase in the payment of income tax withholdings.
Restrepo warned that said increases will range between 10% and 150%, A level that considers unsustainable for most small and medium enterprises.
“Look at the dimension of the increases in the self -retention rate. For many companies it is duplicating or more the retention payment at the source of income tax. Are companies prepared for that? ”He emphasized.
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In addition, the former Minister warned that this measure will not only compromise the country’s public finances in 2026 since it will cause a hole in financing the next year budget, but will also have a devastating impact on the productive sectors that depend on these companies.
It is worth mentioning that the director of Fedesarrollo, Luis Fernando Mejía said that at least the government must cut $ 28 billion from the budget to advance in solutions to this fiscal crisis.
Source: Integrated information system
