Colombian Government Withdraws Tax Reform Legislation

Colombian President Iván Duque has decided to withdraw the government's tax reform legislation following mass protests in the country, with Finance Minister Alberto Carrasquilla and Deputy Finance Minister Juan Londoño reportedly resigning as a result of the unrest. The Sustainable Solidarity bill was submitted in April with several tax reform measures, including changes that would increase individual income taxation overall with lower tax brackets, as well as the elimination of several VAT e…