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Tax
 
 
Tuesday  10 of September, 2024
 
 
   
 
 
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The Government submitted the bill for the new tax reform
 
Petro’s Government filed the latest tax bill on Tuesday morning before Congress.

This bill introduces significant changes to the tax system, impacting both individuals and legal entities.

For individuals, the tax bill includes an increase in Income Tax rate. For corporations, it proposes a reduction in the corporate income tax rate and the inclusion of said entities as liable to Wealth Tax. Additionally, it eliminates the simplified tax regime applicable to individuals and legal entities.

According to the Government, the main goals of the bill are to include new measures to increase tax revenues, provide for rules that are aligned with climate-related concerns, and strengthen the Tax Office’s ability to audit and operate properly.
 
 
 
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