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Other proposals for tax reforms of Duque cases


November 27, 2018 – 4:29 PM p.m.



In the last few hours of this Tuesday, the proposal that attempted to reduce the discount that companies paying VAT in Colombia fell within the discussions to prepare the presentation of tax reform.

Today, a company paying this tax is 100% of this taxpayer. The idea of ​​the proposal was to reduce it to 90% to collect a good portion of the $ 13.7 billion that the state needed for next year's expenses.

Katherine Miranda, representative of the House, confirmed that the proposal no longer forms part of the Finance Act because of the consumer's impact that VAT that is not deductible is transferred to the products that citizens purchase.

Read also: And if it's not VAT, what new taxes will it pay to pay in 2019?

"This proposal came from a work table of several congresses where members of the opposition did not participate until yesterday, it was thought in the presentation of the Finance Act, but fortunately, we succeeded in the charges we made from the opposition to draw this article in the paper," Miranda said.

According to Congress, the chances of having a $ 14 billion deficit in the budget will be less, so the national government should invest in a collection of between 6 and 8 billion pesos.

"We've been looking for alternatives to get resources for three weeks and we have not found them and that's why I think it's time to say that the 14 billion pesos needed were not found and the government has to bet between 6 and 8 trillions peso's maximum collection, "says Miranda.

However, the initiative would not go either because it would obviously violate the agreement with the CAN community, which states that the VAT must be deducted in its entirety.

"The tax credits arising from the acquisition of goods or utilization of services as a whole are intended for activities taxed at the normal rate and for activities covered by the zero-rate scheme will be discounted in one hundred percent (100%)" as set out in the article. 29 in decision 599 of CAN.

Thus, there is uncertainty as to how they will lack the resources in the national budget for 2019, which, with the presentation that will be presented in the next few hours, will reach a collection of only $ 7.7 billion. Although they will continue to look for alternatives, many sectors guarantee that the action area has been closed to the state.

Read also: And if it's not VAT, what new taxes will it pay to pay in 2019?

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