The President of the Republic, Iván Duque Márquez, confirms his Twitter account, the Government signed an agreement that the political parties did not set the Tax Value Added Tax (VAT) tax on 80%, as envisaged in the tax reform.
"We will continue to work on finding alternatives that allow social financing programs," the president added.
The Government and the Congress have reached an agreement to not pay the tax on the basic basket of VAT. We continue to find alternatives that allow you to finance social programs.
– Iván Duque (@IvanDuque) November 22nd, 2018
On Wednesday, in the middle of some meetings, the Government, by the Minister of the Treasury, Alberto Carrasquilla, approved this article to withdraw from the reform. He was Director of the Board of Directors for Financial Law as a project.
Congresses from different groups assure that they continue to seek alternative financing and do not rule out that some profitable and healthy products will set taxes, but the government has never had a B plan.
Apparently, there would also be an agreement to establish agricultural taxes and income and freight transport taxes.
This Thursday, the VAT on the products that do not participate in the family basket will be discussed and then other resources will be evaluated to obtain the missing resources.