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The agreement reached by the drafters of the financing bill would leave it with $ 13.7 trillion of the $ 14 trillion for which the government claims that the 2019 budget is underfunded.
After Monday's meeting between the Speakers Subcommittee and the Ministry of Finance, the novelty is that a 5% surcharge will be billed to the financial sector, which is expected to raise about $ 700 billion.
Thus, while corporations will have an income tax of 33% starting in 2019, the rate for the financial system will be 38%. And when, in 2022, the income of legal persons will be reduced again to 30%, the financiers will have a tax of 35%.
Similarly, a multi-phase VAT is planned for beer and non-alcoholic beverages, raising $ 960 billion; personal income tax would be $ 1.9 trillion; the 1.5% tariff on liquid badets in excess of $ 5.5 billion would leave $ 1.2 billion.
Similarly, the 15% tax for dividends over $ 10.3 million and the 7.5% rate for profit transfers abroad would raise $ 821,000 million; Dian standardization would have a collection of $ 1 trillion; the limitation of rebates up to 90% of VAT would collect $ 6 billion and the 2% impoconsumo for the sale of homes of more than $ 918 million would have $ 1.1 billion.
The idea of the executive is now to file the document on Tuesday so that the first debate on the so-called tax reform project begins on Wednesday in the Joint Economic Commissions and this week's own-initiative vote, for the tight times that remain to come up. December 16, at the end of the ordinary sessions of the Congress of the Republic.
In addition, the Ministry of Finance warned that until the final report was ready, it would not divulge details other than each of the articulated points.
In the meantime, it is likely that this same Tuesday will define where the nearly 300 billion dollars that would be missing from the paper would be left to fill the government's $ 14 billion financial gap. In this sense, it is thought that they could let the elimination of profits to businesses.
In the presentation, yes, as agreed, the controversial extension of VAT to 80% of the family basket does not go.
Another issue that has finally been addressed so far in the paper is presumptive VAT for high-income Colombians. And the pensions were taxed as in the previous tax reform.
Although there are already agreements on the text, it is also possible that there is still room for changes.
David Barguil, Senator of the Conservative Party in Cordoba, author of the proposal to apply the 5-point surcharge on rent to the financial sector, said in this regard that "this sector, which has been multiplied by four compared to GDP, must contribute more to the state. "
The parliamentarian added: "We got help from different political sectors to charge us a rent surcharge to the financial sector.In other countries of the world, this model has been applied to support d & # 39; 39 other sectors of the economy, such as education A sector that is doing well and has benefited from economic policy for years should contribute to the state. "
And Barguil concluded that the executive branch had demonstrated its "democratic spirit" by accepting different approaches: "The national government has demonstrated its democratic spirit by listening to proposals from different sectors of the country so that the middle clbad and the most vulnerable are not We support the efforts of President Iván Duque to strengthen the productive sectors and generate economic growth. "
For his part, Senator of the Democratic Center of Cartagena, Fernando Araujo, said that "the rigorous, proactive and technical work of the Ministry of Finance, the Government and stakeholders from all parties, allowed us to progress in a broad consensus to finance the 14 billion missing in the 2019 budget, necessary to cover social investments, without affecting the underprivileged clbades, the middle clbad, while promoting investment, competitiveness and the opportunity to create a formal job and quality in Colombia ".
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