Tax: proposal on dividends and other taxes would be reviewed

Tax: proposal on dividends and other taxes would be reviewed

This Tuesday, August 23, the presentation of the rtax form of the government of Gustavo Petro before the Third Committees of the Senate and Chamber. The Minister of Finance, José Antonio Ocampo, was in charge of a large part of the speech on his proposal.

(Read: Undertaking in Colombia would be more “challenging” by the tax, said AMV).

In his speech, Ocampo stressed that the intention is to improve the current conditions of the country in terms of taxation, being willing to review aspects such as tax on dividends or some adjustments in personal income.

In addition, he reiterated that the project does not go against private entrepreneurship. “This is a project for equity and it is not a project against private enterprise. We can discuss what rules should be moderated, but it is not against investment, economic activity or employment, as some congressmen have described”, pointed out the senior official.

The minister acknowledged that in the face of dividends one may be talking about ddouble taxation and, therefore, you can work with the speakers to moderate that impact. However, in the occasional profits tax, he considers that double taxation does not apply and to moderate it, he recommended a greater fight against evasion.

(Also: Vertical equity and other basic concepts to understand the tax).

What happens is that the declared value is very low. Therefore, if there is an occasional profit that is like this, that is, that it rises more than inflation”, he assured.

Regarding the taxes on natural persons He stressed that the tax tables, which in his opinion are correct and were prepared with care, may have problems if there are citizens who have two or three types of income and may have an accumulated table.

And when indicating that the definition of the value of 10 million pesos of monthly income to raise the tax level, removing exemptions, it was done with the support of people experts in income distribution, He assured that one aspect that can be corrected has to do with the dependents who are in charge of these people.

We can discuss dependents if there is a way to get in an additional rule and we can see how much it can be improved”, added the official.

(Keep reading: The impact that the plastic tax would have on the family basket).

Finally, he assured that all these adjustments will be discussed with the team of speakers already designated.


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