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Argus Media has reported that the Colombian government will propose a new carbon tax on coal consumption in the power and industrial sectors, according to coal federation Fenalcarbon s new President, Carlos Cante.
The finance ministry will propose the initiative in an upcoming tax reform bill that the government is expected to put before congress next month. The Colombian economy fell by 6.8% in 2020, according to national statistics bureau Dane, and the new tax is intended to help plug the budget deficit created by the pandemic.
The tax on coal consumers is expected to be Ps16 000/t of carbon dioxide equivalent (CO