The Minister of Finance, Ricardo Bonilla, presented the financing bill before Commission IV of the Senate.
Web edition/LN
Before Commission IV of the Senate, the Minister of Finance, Ricardo Bonilla, presented the financing law, a project that aims to raise $12 billion. The official pointed out that this campaign includes tax incentive measures aimed at gradually reducing the corporate income level.
“We disagree with previous reforms that left the income level high and fixed without leaving any room for companies to move,” he pressed the Finance Minister.
“The commitment is that we will return to the path of reducing the rate of corporate income and it is proposed to reduce it from 35% to an average of 27.3% with different rates between small, medium companies and big with the goal of reaching 2030 with the lease. further reduction”, the official backed up.
Likewise, in his speech, Bonilla pointed out that if this law is approved, companies would go from a tax of 35% to 33%, medium-sized companies from 35% to 30% and small companies from 35% to 27%. By 2025, companies would have savings of $8 trillion, money with which they could make other big investments.
Tourism
Regarding the tourism sector, the Minister pointed out that there are already two advantages in Colombia such as not paying VAT for air tickets in areas that do not have land connections and that today apply to 23 municipalities. Likewise, he recalled that there is a 15% rental rate for building new hotels.
“This project proposes that VAT be levied for hotel and tourism services located in towns with less than 200,000 inhabitants. “This concerns 1,089 municipalities in Colombia and this fiscal cost is $121,000 million,” Minister Bonilla explained.
