Colombia To Present New $2.86 Billion Tax Reform Proposal To Congress
<p>Colombia plans to propose a $2.86 billion tax reform to Congress, aiming to address budget shortfalls and ensure fiscal stability.</p>
<p>The post <a href="https://www.arise.tv/colombia-to-present-new-2-86-billion-tax-reform-proposal-to-congress/">Colombia To Present New $2.86 Billion Tax Reform Proposal To Congress</a> appeared first on <a href="https://www.arise.tv">Arise News</a>.</p>
The Colombian government is set to introduce a fresh tax reform proposal to Congress in a bid to raise at least 12 trillion pesos ($2.86 billion) to finance its budget, Finance Minister Diego Guevara announced on Thursday. The move follows the rejection of a similar reform last year, which left the government scrambling to cut spending.
Speaking in an interview with local radio station Caracol, Guevara indicated that the new proposal could seek even more funds to ensure financial stability. “It is no secret that there is significant tax pressure this year,” he said, emphasising the urgent need for additional resources. President Gustavo Petro has reportedly instructed his administration to push forward with a revised tax plan.
Last year’s failed proposal aimed to generate 9.8 trillion pesos but faced resistance in Congress, forcing the government to slash its budget to approximately 511 trillion pesos. Despite these cuts, Colombia’s spending remains 40 trillion pesos over the fiscal limit, according to the country’s autonomous fiscal rule committee (CARF).
The upcoming reform is expected to revive some previously rejected measures, including tax relief for small and medium-sized businesses while introducing new taxes on sectors such as mining and energy. Guevara noted that the government is still in the early stages of drafting the proposal but reaffirmed that the baseline target remains 12 trillion pesos, with the possibility of increasing the amount.
We’re still in the initial stage (of planning the new proposal),” Guevara said. “The baseline will be 12 trillion pesos (raised), but we may aim for a bit more to ensure stability this year and in the longer term.”
However, with limited congressional support, Petro’s administration faces an uphill battle in securing approval for the tax reform. The outcome of this proposal will be crucial in determining Colombia’s fiscal strategy for the year ahead.
<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2022/02/abba-kyari-1000x600.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Breaking: Court Grants Abba Kyari Bail" decoding="async" fetchpriority="high" srcset="https://www.naijanews.com/wp-content/uploads/2022/02/abba-kyari-1000x600.jpg 1000w, https://www.naijanews.com/wp-content/uploads/2022/02/abba-kyari-590x354.jpg 590w, https://www.naijanews.com/wp-content/uploads/2022/02/abba-kyari-400x240.jpg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p>
<h2>The Borno Youth Forum has called on President Bola Ahmed Tinubu to release the former head of the IGP Intelligent Response Team (IGP-IRT), DCP <a href="https://www.naijanews.com/topic/abba-kyari/" target="_blank" rel="noopener">Abba Kyari</a>, on account of his exploits against Boko Haram terrorists and kidnappers in the country.</h2>
<p>In an open letter obtained by The Whistler, signed by Ahmed Yusuf, Chairman of the Forum, the group said Kyari's antecedents speak for him, especially now that the country is experiencing kidnapping and other insecurity situations.</p>
<p>They called on “<em>President Bola Ahmed Tinubu to come to our aid and release DCP Abba Kyari unconditionally. The association is pleading that the government should recognise the outstanding and unprecedented achievements recorded by DCP Abba Kyari when he was the commander of IGP-IRT.</em></p>
<p><em>“In Borno State, he and his team ended all the Boko Haram terrorist suicide bombings in the state by arresting all the Boko Haram terrorist Commanders involved in over 130 suicide bombings.”</em></p>
<p>The Borno Youths said Abba Kyari is the only officer who arrested Boko Haram terrorist members involved in the Chibok Schoolgirls’ kidnapping of 2014.</p>
<p>They said he also arrested the terrorist group that conducted the last bombings in Nyanya and Kuje in 2015, which resulted in many deaths.</p>
<p>The group said: "<em>He also discovered and destroyed two of their bomb-making factories in Niger State, and since that operation, no bombing has been recorded in Abuja.</em></p>
<p><em>“We can’t forget his arrest of a very deadly and notorious criminal kingpins across the country like Evans, Godogodo, Vampire, Ade Lawyer, Umar Abdulmalik, Halti, Zakari Yau, Ability, Dabo, Dogo Russia, and others.</em></p>
<p><em>“The government also needs to recognize how he suffered and risked his life in maintaining peace, security, and the protection of lives and properties of the citizens of this country.</em></p>
<p><em>"DCP Abba Kyari received hundreds of awards within and outside Nigeria due to his tireless and outstanding efforts on promoting security through intelligence-led policing, use of human intelligence, use of technologies and technical intelligence, and cogent strategies in maintaining peace in every nooks and cronies of the country.</em></p>
<p><em>“For his service to the nation, he received unprecedented triple IGP Medals for Courage, 2012, 2013, and 2014; commendation award from American FBI 2019, for arresting the killers of a serving American soldier in Imo State, and he led the arrest of the kidnappers of four white Americans in Kaduna State.</em></p>
<p><em>“Kyari also arrested the kidnappers of American citizen, George Nathan in Sokoto, and earned the presidential Medal for Courage from President Mohammadu Buhari in April 2016.</em></p>
<p><em>"Due to his exploits, which you were well aware of, sir, he was awarded Outstanding Service to the Nation from the National Assembly in June 2020 amongst many other unprecedented awards.</em></p>
<p><em>“DCP Abba Kyari’s contributions towards Nigeria are uncountable, which ultimately erase whatever kind of allegations levels against him.</em></p>
<p><em>“The weight of his contributions and achievement to this nation is a thousand times more than the false allegations against him which is even a malicious set up and personal vendetta, and a calculated attempt to tarnish his image and integrity in the eyes of peace loving Nigerians.</em></p>
<p><em>“In this regard, the initiators of these allegations failed to prove their case beyond reasonable doubt. In totality, DCP Abba Kyari has no case to answer, but rather, the initiators of these allegations were dragging the matter due to lack of substantive evidence to produce in court.” </em></p>
<p>The post <a href="https://www.naijanews.com/2024/03/18/why-tinubu-should-release-abba-kyari-borno-youths-list-embattled-cops-achievements/">Why Tinubu Should Release Abba Kyari – Borno Youths List Embattled Cop’s Achievements</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>
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