There are several clues that have been given in recent weeks by both the president-elect Gustavo Petro and his appointed Minister of Finance, Jose Antonio Ocampo on the tax reform that the government will present, and just this Friday, the economist announced that he will present it one day after taking office.
(The main points of the Petro tax, according to its Minhacienda).
Ocampo confirmed that the idea is to present it on August 8, and according to what he said, in dialogue with the Blu Radio station, for now an important part of the text is already available and the explanatory statement is being prepared as well.
The next Finance Minister said that work is being done on how many resources the different proposals will contribute.
Ocampo has highlighted that the income tax will be the fundamental pillar of the new reform, and will focus on taxing people with monthly income of more than $10 million. He has also said that it is not planned to increase the corporate income charge but, on the contrary, it is expected to gradually reduce the current rate according to the results achieved in terms of collection.
(Tax, budget and more reforms that will be ‘taken over’ by Congress).
The future official also told the station that the planned goal is to achieve an annual collection of close to $25 billion, and even reach additional amounts of $20 billion as a result of the fight against tax evasion.
other points of The reform will seek to rely on high net worth individuals, eliminate exemptions for different sectors, as another of the main measuresand there has also been talk of not impacting the middle or lower class, by not touching the family basket or taxes such as VAT, among other elements.
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