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IMF praises Colombia's wealth tax

Wednesday, October 15, 2014

The International Monetary Fund praised Colombia’s progressive tax overhaul, widely labeled as the “wealth tax,” as its representatives met with Finance Minister Mauricio Cardenas in Washington earlier this week.

Alejandro Werner, director of the IMF’s Western Hemisphere division, considered the tax reform a further consolidation of the fiscal responsibility of the country.

“Colombia is starting the discussion on the next tax increases that are necessary in order to contain the costs and contingencies that are being displayed for the future. This is is the right attitude,” he said.

Source: Colombia Reports