Salem Radio Network News Tuesday, August 3, 2021

Business

Colombia to seek 15.2 trillion pesos in revised tax reform proposal, finance minister says

BOGOTA (Reuters) – Colombia will look to raise 15.2 trillion pesos ($3.97 billion) in a new tax reform set to be proposed to Congress, as the government looks to shore up the country’s finances amid credit rating troubles and growing debt, Finance Minister Jose Manuel Restrepo said on Tuesday.

The sum included in the so-called social investment law is significantly lower than the 23.4 trillion pesos ($6.12 billion) sought by the government in April, before it was forced to withdraw the proposal following protests and lawmaker opposition.

($1 = 3,824.08 Colombian pesos)

(Reporting by Nelson Bocanegra; Writing by Oliver Griffin; Editing by Leslie Adler)

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