Santos May Raise Wealth Tax to Finance Colombia Rains Recovery
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Colombia’s President Juan Manuel Santos said his government is considering extending for one year and broadening a tax on high-income earners to help pay for the damage caused by the worst rains in 30 years.
The tax, which currently is levied on people with assets of more than 3 billion pesos ($1.5 million), may be extended to those with more than 1.5 billion pesos, Santos said in an interview with RCN Radio. The tax was scheduled to expire in 2014. The government is not considering raising the value-added tax, Santos said.