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Weekly Report - 09 October 2014 (WR-14-40)
COLOMBIA: Cárdenas tables tax reform to propel development
Finance Minister Mauricio Cárdenas presented congress with a big tax reform initiative on 3 October designed to ensure Colombia retains its “leadership in the region as the fastest growing economy in Latin America”. Cárdenas said the tax reform was essential to sustain a high-level of investment in infrastructure, education and social programmes (as well as covering a budget shortfall for 2015), especially as oil revenue has suffered as a result of myriad guerrilla attacks on infrastructure this year affecting production. Intriguingly the presentation of the reform coincided with the publication of a book assessing the economic and social benefits of a post-conflict Colombia.
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