Tag: tax rule

Compliance with the budget rule in 2024 is at risk: Carf

Compliance with the budget rule in 2024 is at risk: Carf

The CARF indicated that if full implementation of the programmed budgetary expenditure is achieved, the budget deficit would be 4.4% of the GDPconsistent with the shortage in the Structural net primary balance required by the Budget Rules Act1.4% of GDP. “Although a deviation is observed in some macroeconomic assumptions, which negatively impacts the… tax income […]

The dollar rises to $4,000 following the GDP results

The dollar rises to $4,000 following the GDP results

On Wednesday, Dane released third-quarter GDP data, which led the dollar to break its bearish trend. GDP fell by 0.3%. The expected results exceeded analysts’ expectations. The dollar opened on the market with a minimum price of $4,040.00 and a maximum of $4,081.60. The representative market price for this Thursday is $3,976.84. After knowing the […]

DNP’s comment about making the tax rule more flexible fuels the debate

DNP’s comment about making the tax rule more flexible fuels the debate

On the other hand, Luis Fernando Mejía, president of Fedesarrollo, warned that “it is not a good idea to think about changing the fiscal rule to allow more public expenditure: public debt is still high, in 2024 expenditure will exceed highest in the whole world.” history and the deficit greater than 4% of GDP, and […]

The market is responding favorably, the Treasury Department says before the fall of the dollar

The market is responding favorably, the Treasury Department says before the fall of the dollar

Treasury Secretary Ricardo Bonilla assured that the fall of the dollar below the $4,000 mark is a favorable market response to the fulfillment of the national government’s commitment to the fiscal rule. Speaking to businessmen from Colombia, Peru, Chile and the United States at a meeting this Tuesday, he claimed that the market could verify […]

CARF proposes to lower the threshold for contributing to Colpensiones

CARF proposes to lower the threshold for contributing to Colpensiones

According to the group of experts, the optimal threshold from a pension subsidy and savings perspective for the economy would be from a minimum wage. “Correcting the threshold improves the fairness of the reform and reduces the tax cost by 20% of present-value GDP, which is about $236 billion,” said Carf. In this sense, they […]

Lowering the price of gasoline produced by Ecopetrol does not “resonate” with the Treasury Department

Lowering the price of gasoline produced by Ecopetrol does not “resonate” with the Treasury Department

The proposals put forward by the Minister of Mines and Energy, Irene Vélez, regarding the price of petrol “did not sound familiar to the Minister of Finance, Ricardo Bonilla”. The idea of ​​Minister Vélez during her trip to Portugal, that the international price should not be applied to the gasoline produced in the country by […]

We hope that the new cabinet will be open to dialogue: Trade Council

We hope that the new cabinet will be open to dialogue: Trade Council

The National Trade Union Council (CGN) said the 32 unions that make up it hope that the new members arriving in President Gustavo Petro’s ministerial cabinet will be open to dialogue on important national issues, such as the reforms being processed before the Congress of the Republic. This follows the announcement of changes in seven […]

The tax cost of the pension is $6 billion

The tax cost of the pension is $6 billion

Ocampo pointed out that for the implementation of these reforms promoted by the national government the tax rule will be respected. “The resources that exist are those provided by current tax rules and this is reflected in the fact that we are going to see how the healthcare reformbut the public data shows that funding […]

Tax does not affect the country’s fiscal forecasts: Fitch

Tax does not affect the country’s fiscal forecasts: Fitch

Credit rating agency Fitch Ratings said the tax reform will not affect the agency’s near-term budget projections, as expected revenues will be used to fund increased social spending in line with President Gustavo Petro’s policies. “We forecast deficits narrowing and debt/GDP stabilizing in 2023-2024, but risks to our projections remain significant,” the rating agency said […]

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