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Taxation in Colombia is determined by the Congress of Colombia, every Department Assembly and every City Council, which determine what kind of taxes can be levied and which rates can be applied. The country inherited a harsh and diffused taxation policy from the Spanish Empire characterized by a heavy reliance on customs duties.
The Office of the Comptroller General of the Republic of Colombia (Spanish: Contraloría General de la República de Colombia) is a Colombian independent government institution that acts as the highest form of fiscal control in the country.
The Ministry of Finance and Public Credit (Spanish: Ministerio de Hacienda y Crédito Público), is the national executive ministry of the Government of Colombia responsible for the financial and budgetary matters of the country as well as implementing the financial policies passed by Congress, equivalent to the finance ministries of other countries.
Colombia, [b] officially the Republic of Colombia, [c] is a country primarily located in South America with insular regions in North America.The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuela to the east and northeast, Brazil to the southeast, Peru and Ecuador to the south and southwest, the Pacific Ocean to the west, and Panama to the northwest.
Colombia's international reserves have remained stable at around $8.35 billion, and Colombia has successfully remained in international capital markets. Colombia's total foreign debt at the end of 1999 was $34.5 billion with $14.7 billion in private sector and $19.8 billion in public sector debt.
The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product [19] and the third-largest economy in South America. [20] [21] Throughout most of the 20th century, Colombia was Latin America's 4th and 3rd largest economy when measured by nominal GDP, real GDP, GDP (PPP), and real GDP at chained PPPs.
A series of protests began in Colombia on 28 April 2021 against increased taxes, corruption, and health care reform proposed by the government of President Iván Duque.The tax initiative was introduced to expand funding to Ingreso Solidario, a universal basic income social program established in April 2020 to provide relief during the COVID-19 pandemic in Colombia, while the legislative Bill ...
Most of Colombia's population descends from European immigration in the mid 16th to late 20th centuries. The greatest waves of European immigration to Colombia can generally be divided into three time periods: the 1820s-1850's, which brought hundreds of immigrants mainly from Spain, Italy, Germany (including Ashkenazi Jewish); the 1880s-to 1910s, which brought many immigrants from France ...