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Colombia rakes in billions in tax reform

Tuesday, January 3, 2017


Lawmakers in Colombia’s Congress have approved a tax reform bill that seeks to raise billions of dollars in the coming years to make up for lost oil revenue and preserve the Andean nation’s investment grade credit rating.

Lawmakers in the lower house approved the reform by 78-14 on Thursday, while the Senate voted 46-16 in favor in the early hours of Friday morning.

Source: Reuters