The Taxes of the Tax Authority That Will Affect the Pockets of All Colombians

Tax attorney Gustavo Pardo was quoted in an article from El Espectador analyzing the Petro Administration's new tax reform. The package aims to raise $26.3 trillion for 2026 without taxing basic family income but includes measures that would make fuels and services more expensive, with ripple effects for consumers throughout Colombia. Mr. Pardo cautioned that the value-added tax (VAT) on gasoline and diesel, increased carbon charges and a higher levy on the financial sector will have significant implications for prices, savings, credit, and production and transportation costs.

"Any tax that is imposed on any activity, such as the gasoline tax or the surcharge on the financial sector, will be passed on to the cost of the product. Quite simply, everything will become more expensive. In short, this is a tax reform that affects everyone," he said.

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