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Petro Targets Rich Colombians and Oil Exports With New Taxes

  • Incoming government targets revenue boost of 1.7% of GDP
  • Tax bill is intended to reduce poverty and inequality
Gustavo Petro, Colombia's president, speaks at the Presidential Palace in Bogota on Aug. 8. 

Gustavo Petro, Colombia's president, speaks at the Presidential Palace in Bogota on Aug. 8. 

Photographer: Nathalia Angarita/Bloomberg
Updated on

Wealthy Colombians and energy exports are being targeted with new taxes on the first day of President Gustavo Petro’s administration.  

The incoming leftist government, which took office on Sunday, said it is seeking to cut inequality and raise money for poverty-fighting programs with the measures.