Weekly Report - 11 November 2003

COLOMBIA | Tax blitz goes to congress. The government of President Alvaro Uribe is seeking directly from congress the approval of a range of tax adjustments in lieu of the reforms envisaged in the recent failed referendum. Its aim is to raise the equivalent of US$1.12bn in additional revenues next year. About half of that is expected to come from unifying at 17% the rates for the value-added tax (currently ranging from 7% to 16%).