LatinNews Daily - 23 December 2019

* The flagship tax reform championed by President Iván Duque was finally approved by Colombia's national congress after three days of debate, and despite the rejection of Duque’s initial proposal by Colombia’s constitutional court in October. The reform aims to collect an additional Col$13.5bn (US$4.06bn) in 2020, despite substantial value-added (VAT) and income tax exemptions for businesses, justified by Finance Minister Alberto Carrasquilla as necessary to facilitate growth and investment. The widespread protests in Colombia since 21 November have been driven in large part by these economic reforms, and protesters again took to the streets to condemn a bill that they say will lower taxes for the richest and place the burden on the working and middle classes instead.

End of preview - This article contains approximately 124 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial