CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. IMF Urges Colombia To Increase Non-Oil Revenues

IMF Urges Colombia To Increase Non-Oil Revenues

by Mike Godfrey, Tax-News.com, Washington

02 June 2015


The Colombian Government needs to mobilize non-oil revenues to meet its medium-term fiscal targets while protecting social and infrastructure spending, the International Monetary Fund (IMF) has said.

The Fund said in its 2015 Article IV Consultation report for Colombia that the country should pursue comprehensive tax reform, with the objectives of simplifying the tax structure, making it more progressive, broadening the tax base, and improving tax administration.

Previously the IMF recommended that Colombia reform its corporate tax structure and increase the value-added tax (VAT) rate. It also proposed that Colombia could replace the traditional personal income tax with an alternative minimum tax, which allows for fewer deductions.

TAGS: tax | economics | value added tax (VAT) | fiscal policy | revenue guidance | budget | International Monetary Fund (IMF) | Colombia | tax reform | individual income tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »