Colombia to seek more than $7 bn via proposed tax reform

Colombia will seek to raise $7.15 billion (Co$ 25.4 billion) in a proposed tax reform to be sent to congress in the coming days, more than previously stated, according to sources and documents seen by Reuters on Tuesday. Of the money raised by the reform, some $4.7 billion (Co$ 16 billion) will go toward spending needs, while $2 billion (Co$7.6 billion) will fund welfare payments. Other funding will be directed at economic reactivation efforts.

Source: Reuters