LatinNews Daily - 13 August 2020

* Claudia López, the mayor of the Colombian capital Bogotá, has unveiled a ‘Marshall Plan’ (referring to the US-funded recovery plan for post-war Europe) to reactivate the Bogotá economy and boost employment as part of efforts to address the impact of the coronavirus (Covid-19) pandemic. The plan, which is due to be presented to the Bogotá city council for approval, proposes to borrow Col$11trn (US$2.9bn) and provide tax incentives amounting to Col$2trn. Among other things these include a 100% exemption of property tax for theatres and museums for 2021 and 2022, and a 50% exemption until 2030, as well as a freeze on property tax payments for residential and non-residential properties for the 2021 tax year.

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