Anif and Fedesarrollo warn that a tax reform should be made in 2022

They assure that regardless of the political orientation of the next government, they need to raise around 20 billion pesos.

The Anif Center for Economic Studies assured that no matter the political orientation of the next government, it will be necessary to process a new tax reform in Congress.

Mauricio Santamaría, president of Anif, assured that “when the incoming government arrives, whatever it may be, and the Minister of Finance that they appoint and Show the accounts, go to say, well, get the reform ready”.

“It is needed because the new government going to say that he has no money for what he promised and a government always has to have money to do what it said it was going to do. Or rather, in August things will be ‘tricky’, “he added.

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He also said that the concern It is not if there will be a reform, but how it will be, what aspects will it touch, how it will attract money. “A government of the left makes a reform very different from those of the right or center,” he said.

“Two points of the Gross Domestic Product (GDP) is what we need. At least, quietly, the incoming government you will need a point and a half of GDP, that is, about $ 20 trillion”, Stated Santamaría.

In turn, the director of Fedesarrollo, Luis Fernando Mejía, mentioned that “it is very difficult for the next government not to file a reform because the fiscal figures are still very complicated. Even with the already approved tax plan that will generate additional resources of more or less one point of GDP, the size of the fiscal gap is around two points of GDP, that is, it solves half the problem ”.

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“The other alternative would be to make a spending adjustment, but given the spending pressures and the need to support the most vulnerable population, it will be very difficult to make an adjustment of that magnitude. So surely there will be no alternative but to discuss a reform which should, of course, have elements of progressivity and much more structural than those that have had the latest reforms, “he said.

Mejía concluded: “Another one to touch would be the debt, but the State already has a debt rate higher than 63% which puts risk rating agencies on edge. That was the reason we lost the investment grade of the big risk raters. ”

Reference-www.alertabogota.com