Petro Proposes Tax Reforms to Boost Growth and Fund Social Programs
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President Gustavo Petro proposed lowering Colombia's 35% corporate tax rate to boost company growth
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Petro wants to increase income taxes for the country's highest earners to make the system more just
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Congress approved a permanent wealth tax, limited deductions for high-income people, and a higher dividend tax in 2022
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Petro suggested removing value-added tax for tourism and clean energy tax exemptions
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Petro wants talks between workers, businesses, and government on reforms after raising the minimum wage 12% to lift production