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Weekly Report - 04 September 2025 (WR-25-35)
COLOMBIA: Tax reform bill faces difficult route through congress
Colombia’s Finance Minister Germán Ávila Plazas presented a new tax reform bill on 1 September – the third attempt at overhauling the tax system since President Gustavo Petro took office in August 2022. With Petro now in the final year of his presidency, he is determined to avoid spending cuts that would hurt the chances of his left-wing Pacto Histórico coalition in next year’s elections. Congress, however, is likely to oppose the tax reform and insist on cuts to the government’s 2026 budget proposal, which features a swollen fiscal deficit after Ávila suspended borrowing limits in June.
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