Colombia’s incoming finance minister wants fair capitalism
2 years, 5 months ago

Colombia’s incoming finance minister wants fair capitalism

Associated Press  

BOGOTA, Colombia — The economics professor who has been tapped as Colombia’s next finance minister says the left-leaning government taking office next month will focus on increasing taxes on the rich so it can spend more on poverty programs. “Not a capitalist system in which the distribution of wealth is among the most uneven in the world.” Ocampo, a Columbia University economist who has led the United Nations Economic Commission for Latin America, was recently asked by leftist President-elect Gustavo Petro to serve as his finance minister when the former guerrilla fighter is inaugurated Aug. 7. Ocampo said Petro’s leftist coalition wants to boost tax collection by approximately $11 billion each year through a plan that would expand the nation’s tax income by around 25%. Ocampo said income taxes would be raised only for the top 1% of wage earners, which in underdeveloped Colombia means anyone making $2,500 a month or more. Earlier this year, the company said fracking projects could add 400,000 barrels of oil per day to Colombia’s output and secure natural gas reserves for the next 25 years.

Oil Taxes Colombia Colombian Tax Income Ocampo Petro Administration  petro  administration  nations  fair  finance  capitalism  taxes  wants  minister  oil  tax  income  colombias  ocampo  incoming

History of this topic

Colombia’s leftist president presents ambitious tax plan
2 years, 4 months ago

Colombia’s leftist president presents ambitious tax plan

Associated Press  

BOGOTA, Colombia — Colombia’s first leftist president presented an ambitious tax plan on Monday that aims to raise up to $11 billion a year for anti-poverty programs. Less than 24 hours after taking his presidential oath, the new president presented a tax reform plan to his nation’ s congress that will increase income taxes on wealthy individuals and place a …

Colombia’s new president Petro proposes ambitious tax reforms
2 years, 4 months ago

Colombia’s new president Petro proposes ambitious tax reforms

Al Jazeera  

The reforms are key to Gustavo Petro’s vision of building a more equitable country, with less reliance on oil revenues. The move on Monday by the country’s first leftist leader, was the first step to fulfilling his promise to millions of Colombians, like Maydany Salcedo, a 47-year-old social leader from the Putumayo province, who watched the inauguration Sunday with high …

Colombia’s president withdrawing tax reforms after mass protests
3 years, 7 months ago

Colombia’s president withdrawing tax reforms after mass protests

Al Jazeera  

Colombian President Ivan Duque has said he is withdrawing a contentious tax reform proposal after thousands of protesters took to the streets across the South American nation for several days to denounce the measures. “They’re robbing us poor people, while they give everything to the rich.” Human Rights Watch said it had confirmed six deaths related to the protests. The …

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