Colombia scraps increase to 2015 budget, softens wealth tax rules Colombias government has backed away from plans to increase its 2015 budget and to lower the threshold for the payment of wealth tax, Finance Minister Mauricio Cardenas confirmed on Wednesday, amid criticism by industry and opposition figures. Addressing the congressional economic commission, Cardenas said next years total budget would be 216.2 trillion pesos ($109.5 billion) as previously planned after officials said on Tuesday the government wanted to raise it by up to 2 percent. Later on Thursday, Cardenas told reporters that plans announced this week to lower the threshold above which a tax on wealth is payable, to 750 million pesos, had been scrapped at the request of President Juan Manuel Santos.
Posted on: Wed, 10 Sep 2014 23:36:25 +0000
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