The newly elected president of Columbia, Gustavo Petro Urrego, has submitted a proposal to reduce gambling taxes while raising taxes on the “ultra-wealthy.”
Pedro, who is a former economist, became President August 7.
His program includes a hike on billionaires and a reduction in taxes for the occasional gambler. He has submitted his reforms to Congress and his incoming Minister of Finance Jose Antonio Ocampo, is charged with lobbying for it with lawmakers.
Pedro, who previously ran unsuccessfully in 2018, won this time on a platform of economic reform, and a promise to increase tax revenues by billions.
He proposes to cut the tax rate on dog and horse racing winnings, lottery winnings and other forms of gaming. Under current rules, winners pay as much as 20 percent of their winnings.
