Minister Guzmán, one of the main promoters of the project, had previously indicated that the objective of the project is to target only a set of companies that “have high net taxable profits in absolute terms”, that is, those companies that obtain profits more than $1,000 million in the year.
The national government promotes the application of a tax on “unexpected income” for those companies that have had extraordinary profits from the increase in international prices derived from the war between Russia and Ukraine.
The announcement of the initiative was made on April 18, during a ceremony held in the White Room of the Government House, also led by the President and the minister.
Guzmán explained that to be covered by the measure, “the real taxable net profit must have increased significantly in 2022 in relation to 2021” and “the ordinary result (the profit margin) must also be abnormally high in 2022” .
He also said that “a criterion will be included in which if the unexpected income is channeled towards reinvestment, the amount of the contribution will be less.”
According to the Palacio de Hacienda, the measure would only affect a very small portion of the companies: in 2021, 3.2% of the total companies would have had to pay it.