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While the president is away at the COP27 summit, inflation hit a 23 year high, which will no doubt affect the coming minimum wage increase.

In this week’s Colombia business news recap: Tecnoglass continues to break records EPM postpones the bid process to finish Hidroituango for the fifth time Mayor McMeat and the cattle ranchers Emerging new restaurants Tax Reform has passed I am really looking forward to the...

The bill imposes new income taxes on Colombians earning more than $2,000 per month, plus petroleum & mining exports.

This past week: Nationwide protests, the falling peso, land redistribution, Ecopetrol, Petro's pal Lula, Quintero's Hidroituango crisis, & more!

The Central Bank will sit down shortly over fine Colombian coffee and, no doubt, a few cheeky pastries to discuss what to do about interest rates. The current 10% is not going to get the job done and the consensus is for a move to 11%. The question that remains is whether that is...

On Friday we also had the Central Bank's latest survey for October, and everything continues to trend upwards versus September.

The Peso closed Friday at $4622 close to record lows after Thursday President Petro made mention of taxing "hot money."

Reportedly 100 new ideas have been added to Colombia's second attempt at tax reform this year, and four original provisions have already been axed.

Colombia's "Comité Nacional de Paro," a coalition of labor unions and syndicalist groups has called for national strikes in Colombia for the 2nd time this year, after the government released a revised fiscal package.

Another aspect is the normalization tax complementary to income tax. This 17% tax would be reincorporated with the purpose of normalizing omitted assets or nonexistent liabilities, and would be in force for the year 2022. During 2021 an advance payment of 50% must be made.