On the first day of the Government of Gustavo Petro, the Minister of Finance, José Antonio Ocampo, presented to Congress the tax reform bill with which the new Government aspires to collect 25 billion pesos per year (US$5,795 million), which equivalent to 1.72% of the gross domestic product (GDP) in 2023, with the aim of reducing the social debt.
The initiative is based on five key points: a higher collection of taxes from individuals who earn more than 10 million pesos per month (US$2,325), the fight against tax avoidance and evasion, which annually loses between 50 and 80 billion pesos, which are equivalent to between US$11,590 and US$18,570 million. Third, a tax on exports of oil, coal and gold. The reform includes as a fourth element “the tax on sugary drinks and ultra-processed foods. Lastly, the fifth point is of an environmental nature, called “carbon tax”.
The tax reform raises five key points. Photo: composition LR/Europa Press/agenciaapi
“[La reforma] taxes those who have the most and spends on education for all and on ending hunger in poor children,” the president commented on his social networks.
In Peru, the former Minister of Economy Pedro Francke promoted a proposal with the same tenor that sought to collect large debts; however, it was not approved by Congress.
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