Under the works-for-tax mechanism, Bancolombia, Grupo Argos and nine other companies will develop infrastructure works in Dabeiba (Antioquia) for $24,000 million.
The investment will include the construction of a bridge and a section of road to connect the municipal seat of Dabeiba with the corregimiento of Camparrusia and facilitate the connection with the fourth generation road development that is being carried out in western Antioquia with the Urabá region.
Also participating in this road project are Fiduciaria Bancolombia SA, Grupo Nutresa, Grupo Bios, Cementos Argos, Celsia, Sura, Arquitectura y Concreto, Microplast and Alternativa de Moda.
For Juan Carlos Mora, president of Bancolombia, the first entity in the financial sector to join this scheme, “the mechanism of works for taxes gives us another possibility to continue accompanying the country and its regions in the development of projects that represent development and well-being for people, such as infrastructure works, and in which we work in coordination with public and private entities to generate greater impact”.
For his part, Jorge Mario Velásquez, president of Grupo Argos, stated that “we have a firm commitment to the mechanism of works for taxes, which has led us to execute more than $108,000 million in the last four years. We believe that this is a very relevant instrument to contribute to the development and progress of the territories where we operate for the benefit of those most in need”.
Thus, the development of this project also made possible the creation of the Works for Taxes table, led by Argos, Bancolombia and Proantioquia, and to which different organizations, foundations, companies and entities of the National Government have joined, such as the Renovation Agency of the Territory, Invías, in addition to the Government of Antioquia.
This year, the companies that are making use of this mechanism will invest more than $86,000 million for the development of infrastructure projects, provision of school restaurants, implementation of digital technologies, among others, in the department of Antioquia.
It should be remembered that the figure of works for tax was created in the tax reform of 2016, so that Colombian companies allocate up to 50% of what they pay from their income tax for the execution of projects in the territories Zomac (areas most affected by the conflict) and PDET (Development Programs with a Territorial Approach).