Colombian Government Agrees to Smaller Dividend Tax Hike in Bill

Colombian Finance Minister Jose Antonio Ocampo speaks to reporters in Bogota.

• Dividends to be taxed at an effective rate of between 0% and 20% under new proposal; in original bill, top rate was 39%
• Tax rate on windfall gains to be 15%, though not for lotteries
• Gasoline price to rise 200 pesos per gallon from Oct.
• New proposals come after meetings with lawmakers
• Congress needs to pass bill for it to become law, and it would take effect on Jan. 1

To contact the reporter on this story:
Matthew Bristow in Bogota at mbristow5@bloomberg.net

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