From gradual dismantling to fiscal shock: the reasons that are holding back the elimination of the 4x1000 tax in Colombia

Two legislative bills have been introduced in the Chamber of Representatives in Colombia by the Centro Democrático party to gradually phase out the Financial Movements Tax, commonly known as the 4x1.000 tax. This levy requires citizens to pay four pesos to the state for every one thousand pesos withdrawn.

The debate over the elimination of the tax centers on the transition from a gradual dismantling plan to concerns regarding a potential fiscal shock for the country's economy.