TODAY COLOMBIA (Prensa Latina) Colombian President Juan manuel Santos approved today the Tax Reform Law, which he called a balanced instrument devoted to generate resources to achieve equality and reduce poverty.
In a television message broadcast from the House of Nariño, the president said all resources that come from this reform would go to social or productive investments.
He added that this measure would favor the children from zero to six years of age that live in vulnerable conditions and the lowest-income youths, who will be able to go now to the best universities.
Santos said the reform would also support the continuation of the housing and infrastructure programs to keep providing municipalities with technology, and would improve the welfare of the families of countryside workers.
He praised the fact that the new tax law, which will come into force in January, was extensively discussed, not only at the Republic’s Congress, but also in society, guilds and other sectors of the economy, because those taxes contribute to reduce inequality among national people.
The head of the Executive said the tax law encourages innovation, because it establishes deducting the tax up to 175 percent to investments in cutting-edge technology, in which the companies have expenditure.
Previously, this benefit was only to investments in science and technology and includes innovations now, something that constitutes an important boost to the productive sector, he said.
