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Reuters
Reuters
Business
By Luis Jaime Acosta

Revised Colombia tax bill still puts mining investment at risk -industry group

Demonstrators protest against the government of Colombian President Gustavo Petro and his tax reform proposal, in Bogota, Colombia September 26, 2022. REUTERS/Luisa Gonzalez/File Photo

A tax reform proposed by Colombia's leftist government will put mining investment and production at risk, despite modifications to the bill announced this week, the head of the country's mining association said on Tuesday.

Colombia's new leftist President Gustavo Petro has said he wants to raise an additional 25 trillion pesos (some $5.6 billion) in tax revenue in 2023, before eventually adding about $11.5 billion annually for social programs to government coffers.

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