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May 30th, 2020

Foreign Exchange Rate (TRM) Week 26 to 29 May 2020

Read the latest news about Covid-19
1.Tax incentives for local taxes
The National Government authorized governors and mayors to defer payment of taxes by up to 12 monthly instalments. In addition, a mechanism for portfolio recovery was created, providing benefits for taxpayers in terms of interests, penalties and capital of unpaid local taxes

2.Credit institutions will acquire COP$ 9.8 trillion in debt to address the Covid-19 emergency.
The National Government issued Decree 685 of 2020 through which the issuance of COP$ 9.8 trillion of internal public debt securities called Títulos de Deuda Solidaria (TDS) was ordered. The resources derived from the TDS will be incorporated into the budget as an additional source of money of the Emergency Mitigation Fund -FOME.

3.Specific biosecurity protocol for the agricultural sector
The Ministry of Health and Social Protection (Ministerio de Salud y Protección Social) issued Resolution 796 adopting the biosecurity protocol for the prevention of Covid-19 in the agricultural sector.

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