Petro Signs New Emergency Decree to Tax Banks

2026-02-24 - 18:43

Key Points — President Gustavo Petro signs a new economic emergency decree on Tuesday targeting bank “windfall profits” with a surcharge on corporate income tax. The decree also includes a wealth tax on legal entities, aiming to raise 8 trillion pesos ($1.8 billion) for flood relief across eight departments devastated by an unusually severe rainy