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Colombia Congress Passes Tax Bill Seeking $4 Billion Revenue (1)

Sept. 8, 2021, 3:10 PM

Colombia’s congress approved a tax bill the government says will help ease a widening fiscal deficit, while allowing it to continue social spending needs following the pandemic.

The senate and lower house in separate debates approved the bill late Tuesday that raises 15.2 trillion pesos ($4 billion) per year on average, according to a statement from the finance ministry, by mostly increasing levies on companies. The two texts need to be reconciled before they are signed into law by President Ivan Duque.

The move comes four months after a previous proposal that sought to increase taxes on the ...

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