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In more protests, Colombia submits new tax reforms to Congress | Protest News
The Treasury Department stated that the bill will not affect most taxpayers, after the proposed increase in April caused protests.
The Colombian government formally submitted a $3.95 billion tax reform bill to Congress on Tuesday as unions and student groups tried to revive Street protest This helps disrupt the initial iteration of reform.
Funds raised by the law will be significantly lower than the $6.3 billion package the government seeks. April proposal It was later withdrawn due to large-scale demonstrations and opposition from legislators.
President Ivan Duque’s government insists that this measure is crucial in a period of rising debt and widening fiscal deficits and must be passed to support social programs.
Colombia’s government formally presented a $3.95bn tax reform bill to Congress on Tuesday, as unions and student groups sought to revive the street protests that helped scupper the reform’s original iteration.
The law would raise significantly less than the $6.3bn package that was sought by the government in an April proposal that was later withdrawn amid mass demonstrations and lawmaker opposition.
The government of President Ivan Duque insists the measure is vital at a time of rising debt and an expanding fiscal deficit and must be passed to shore up social programmes.
“The social investment law, which we will build between all of us, is the largest jump in human development in recent decades,” Duque told legislators as he opened Congress’s second legislative period of the year on Colombia’s Independence Day.
Thousands Protest As Colombia Gov t Submits New Tax Reform Plan – Channels Television channelstv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelstv.com Daily Mail and Mail on Sunday newspapers.
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