Colombia’s Petro Says He Seeks to Increase Taxes on Dividends

July 29, 2025, 4:53 PM UTC

The Colombian government will propose a range of new tax initiatives targeting high-income individuals and some corporations, President Gustavo Petro said in a post on X.

  • The proposed measures include increased taxes on dividends, wealthy earners, inheritances, and corporate mergers
  • Petro also said that he’ll seek to reduce the overall corporate tax rate, except for companies operating in the fossil fuel sector
  • Additional proposals include taxes on unproductive land, savings held in tax havens, and tariffs on goods that contribute to carbon dioxide emissions
  • Petro didn’t provide details about the implementation and structure of the proposed tax changes

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