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Colombia presents tax reform bill to Congress

Thursday, October 20, 2016


Colombia's government on Wednesday presented to Congress a tax reform bill that seeks to raise additional cash to make up for lost oil revenue and preserve its investment grade credit rating.

The reform, which must be approved by year-end to kick-in next year, is widely expected to raise value-added tax from 16 percent and tax dividends people receive for owning company shares.

Source: Reuters