These are the new taxes from Gustavo Petro's tax reform that Colombians must pay from 2023

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With the economic initiative, the richest in the country will contribute the most to financing social programs

These are the new taxes from Gustavo Petro's tax reform that Colombians will have to pay from 2023

Colombians will begin to see the effects of the tax reform from January 1, 2023. PHOTO: PRIVATE ARCHIVE

The government of Gustavo Petro is satisfied with the approval of the tax reform , which was reconciled by the Congress of the Republic and now it is only expected to be sanctioned to become a law of the Republic.

This was approved after discussing for hours. Even the Minister of Finance, José Antonio Ocampo, indicated that he spent more than 400 hours with all sectors to agree on each point.< /p>

“This tax reform is a great contribution to the change that the national government intends to forcefully advance. Two essential elements come together here: ensuring that we have sound fiscal policy and that we have the additional resources to drive the breakthrough of total peace,” said the minister.

The reform will seek raise 20 billion pesos to invest in social programs. To achieve this, it brings new taxes:

Surcharge on oil, hydroelectric plants and banks

Oil workers and miners will pay a rent surcharge< /b>which depends on the international price of the last 10 years. In the case of oil, it would be progressive from 5%, 10% and 15%. They will not be able to deduct royalties.

For hydroelectric plants and banks the rate remains at 35%. However, in the case of hydroelectric plants, there is an increase of 3% and the financial sector must assume a surtax of 5%, which would be temporary until 2027 and will begin in 2023. Then, it will remain at 38% and 40%, respectively. .

Carbon tax

The rate will depend on the emission for each fuel and will correspond to 20,500 pesos per ton of carbon equivalent.

Healthy taxes

% in 2023, 15% in 2024 and 20% from 2025.

This has an exception, since producers and natural persons who in the previous taxable year or in the current year obtained gross income of less than 380 million pesos, will not be responsible for this tax. Chocolates will not be taxed if they do not have extra sugar.

It will start to be charged at the end of 2023.

Single-use plastic

Taxes containers, packaging and single-use plastic packaging equivalent to 1.9 pesos per gram of plastic used.

According to Acoplásticos, this will represent an increase in the price of food, drinks or toiletries or cleaning that comes packaged or packaged, which would be between 1% and 6%.

Prison for evaders

Evaders will have jail if omit assets, declare a lower value of these or declare non-existent liabilities to defraud or evade 1,000 million pesos or more. They will be jailed from 48 to 108 months.

VAT on bullfights

The tickets for entering bullfighting events, such as bullfights, must pay VAT. They must also do so for the commercialization of pets.

Individuals

Those who earn more than 10 million must contribute more pesos, since the total amount that a person can deduct when declaring income was limited. Dividends will have rates ranging from 0 to 15% for natural persons and 20% for foreign entities and non-resident natural persons.

Occasional earnings remained at 15%.

Wealth tax

It will be progressive with marginal rates: 0.5% for those over 3,000 million pesos, 1% for those with more than 5,000 million pesos and 1.5% for those with more than 10,000 million pesos.