Colombia president axes tax plan after angry protests | The Guardian Nigeria News


Riot police officers fire tear gas to demonstrators during clashes following a protest against a tax reform bill launched by President Ivan Duque, in Cali, Colombia, on April 30, 2021. – A tax reform project in Colombia added fuel to the discontent that exploded in the streets against President Ivan Duque. Expanding the taxpayer base, raising taxes, reducing exemptions and increasing VAT on some products are initiatives that are debated with some scepticism in the Congress. The government aims to raise about 6,3 billion dollars between 2022 and 2031 to ease the pocket of the fourth Latin American economy, hit by the COVID-19 pandemic. (Photo by Luis ROBAYO / AFP)

Colombian President Ivan Duque caved in Friday to widespread anger and said he would overhaul a proposed tax reform that many said would leave them poorer during the pandemic.

Duque announced he was shelving clauses that would lower the income tax threshold to broaden the tax base and raise value-added taxes on goods…

Source: Guardian Newspaper

Get the Latest Business Tenders and Contracts Information