Colombia Committee Postpones Tax Debate After Not Meeting Quorum

The head of Colombia’s lower house economic committee, Wilmer Castellanos, postponed the vote on the government-proposed tax bill until Dec. 9, saying lawmakers failed to reach the quorum.

• Finance Minister German Avila told committee members the government seeks to reinstate the ban on tax deductions from royalty payments by fossil fuel companies, in order to discard tax increases on fuel, carbon emissions, liquor and other items
  • NOTE: In 2023, Colombia’s constitutional court struck down a government attempt to bar oil and coal producers deducting royalty payments from their corporate income tax

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