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Empresas y finanzas

Colombia's government to propose tax reforms in second half of year - president


    BOGOTA (Reuters) - Colombia's government will not propose a package of tax reforms to Congress until the second half of the year, as it seeks to avoid crowding lawmakers' agenda during a brief March session, President Juan Manuel Santos said on Thursday.

    Santos' governing coalition hopes to increase government revenue and stem tax evasion as the country's economy continues to suffer because of low prices for crude, its largest export and source of foreign exchange.

    "The reform will be presented and it will be approved in the second legislature," Santos said after a meeting with business leaders.

    Officials had originally said the government aimed to present the reforms to Congress as soon as possible.

    The reform will not be presented during the March legislative session because of lawmakers' scheduling concerns, the president added.

    "Congress itself has told us this legislature is very short, Congress begins and then immediately lets out for Holy Week," he said. "They have asked us not to crowd Congress with the reform in the first legislature."

    The government is considering several proposals for the reform, among them recommendations by an expert panel for duties on basic foods and an expansion of the tax base.

    (Reporting by Julia Symmes Cobb; Editing by Clarence Fernandez)