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LatinNews Regional Monitor: Andean Group - 13 January 2017

COLOMBIA: Government pushes key tax reform through congress

Colombia’s finance minister, Mauricio Cárdenas, met representatives of the three main international credit rating agencies in New York City on 11 January to outline the government’s economic policy goals and objectives for 2017. Cárdenas was in buoyant mood after the approval of a major tax reform by Colombia’s congress in the final days of last year. He had argued that failure to approve the multifaceted tax reform which, among other things, increases value added tax (VAT) by three percentage points to 19%, would have jeopardised Colombia’s investment grade rating.

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