They propose a wealth tax on large companies to cover climate emergency expenses in Cordoba

TL;DR

The Colombian government is proposing a wealth tax targeted at large companies.
The purpose of the tax is to raise funds to cover expenses related to the country's climate emergency.
The tax would be implemented within the framework of a declared economic emergency.
It would be a progressive tax, not affecting small and medium-sized businesses.
Companies with liquid net worth over 200,000 UVT (approx. 10 billion pesos) would pay a 0.6% tax.
Companies with net worth between 200,000 and 600,000 UVT (approx. up to 30 billion pesos) would pay a 1.2% tax.
An estimated 15,000 companies would be subject to this new regime.
The proposal comes as Colombia faces significant impacts from extreme weather, including heavy rains and floods in departments like Cordoba, Chocó, Sucre, and Bolívar.
The government estimates that the costs of disaster relief, infrastructure, and reconstruction could reach billions.
The tax is part of a potential declaration of economic and social emergency to channel resources to the climate crisis in the Colombian Caribbean.

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