Government announces new tax reform in 2023 for departmental and municipal taxes

From Cartagena, the Minister of Finance, José Antonio Ocampo, announced this Thursday that the national government will present a new tax reform in the first half of 2023, but from departmental and municipal taxes.

This new project will be presented, according to Minister Ocampo, in order to modify taxes of the territories, such as the ICA, the property tax, among others, so that in all regions (departments and municipalities) remain the same, taxes that generate significant income for the regions.

“I must point out that the Government is going to present a tax reform of departmental and municipal taxes. That is more like a rationalization of a system that is very complete, almost chaotic in some cases, to have a single better system ”, indicated Minister Ocampo, in the middle of the National Infrastructure Congress in Cartagena.

Regarding the deindexation of prices, that is, unlink product prices and inflation services, said that it will no longer be done with that basic inflation figure, Rather, the way to make it happen is being analyzed through the Tax Value Unit (UVT). This, Ocampo said, will be done with products that, for example, are indexed by law such as rents and that of course will have to go through Congress.

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