Colombia and Brazil defend proposed tax changes

The Minister of Finance and Public Credit of Colombia, Jose Antonio Ocampo, and the Secretary of Economic Policy of the Ministry of Finance of Brazil, Guilherme Mello, participated this Friday in a roundtable entitled “Voices from the Global South: Taxation and polycrisis” as part of the Fund’s spring meetings.

In front of dozens of people, Ocampo took the opportunity to explain some of the key elements of the tax reform that the Colombian government hopes to collect 19.7 trillion pesos (approximately $4,136 million) and that the Colombian President, Gustavus Petro, sanctioned in December after Congressional approval.

As Ocampo explained, the tax reform has resulted in the tax benefits enjoyed for years by the wealthiest, while at the same time promoting small businesses and establishing a system to promote environmental protection.

Ocampo defended the surcharge on income tax oil and coal companies of 10% for the first year it was included in the tax reform, because just as the coffee sector contributed more when it enjoyed its “boom”, the same should happen with fossil fuels.

Source: El heraldo

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