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After two days of intense discussions, the Bogota Council approved this Saturday the economic reactivation plan presented by the mayor, Claudia López, and her secretaries of Finance, Juan Mauricio Ramírez, and of Economic Development, Carolina Durán.
(Also: Reactivation plan, within hours of being a District policy)
Approved on #PlanMarshall economic reactivation of Bogotá💪🏻
– Freeze the property for 2.6 million owners with exemptions of up to 80% to schools and gardens
– Reliefs for theaters and museums
– Discounts of up to 25% of the ICA to companies with falls in their income pic.twitter.com/N5JubMP1mo
– Luis Ernesto Gómez👟 (@LuisErnestoGL) October 24, 2020
The draft agreement – today a district regulation in the absence of the sanction of the president – established incentives, tax discounts and benefits for some investment sectors for 53 billion pesos, with which they hope to contribute to the economic take-off of a city that has been hit hard by the pandemic.
“I thank the Bogotá Council for the approval of the Marshall Plan for economic reactivation of Bogotá, which will freeze the property payment for more than 2.6 million owners, will reduce the ICA by up to 25 percent and will support the formalization, reactivation and job creation of MSMEs, ”the mayor said on her Twitter account.
This initiative, after passing with some modifications by the finance commission of the district council last week, was approved this Saturday in its entirety in plenary. None of the 39 articles that were proposed by the District Administration was suppressed.
The project, due to the limited time that existed in the ordinary sessions of the Council, forced the District to withdraw it and present it in extra sessions.
The district government secretary, Luis Ernesto Gómez, added that another advantage is that the property for schools and kindergartens will have exemptions of up to 80 percent.
The councilor of the Alianza Verde María Fernanda Rojas explained other benefits of the article that was approved. “100 percent exemption for museums and theaters in 2021 and 2022, and from 2023 to 2030, 70 percent (…). Discount for new electric vehicles of 60 percent, “said Rojas.
The messages of optimism regarding this project were joined by the one sent by Samir Abisambra, councilor for the Liberal Party. “There are many figures who are going to help the economy of Bogotá, so that we reactivate the sectors, and hopefully with the debt quota we can quickly get out of this crisis,” said the lobbyist.
According to the Bogotá Chamber of Commerce, 37,000 companies were closed during the pandemic and, according to Dane, 1.2 million jobs were lost in the city.
What will the property be like?
Those residential and non-residential properties (offices and companies) whose cadastral appraisal does not exceed 150 legal monthly minimum wages (today they are about 131.6 million pesos) are left with the property tax frozen in nominal terms for 2021.
However, those residential properties with a cadastral appraisal from 1,092.6 million pesos will have an increase in the property tax rate.
Debt quota debate, the next step
To complete the economic recovery package devised by the Bogotá mayor’s office, the capital city council must approve the debt quota. The requested quota is for 10.8 billion pesos, an initiative that will also enter a second debate, after being approved last week in the Finance Commission of the district council. It will be today, precisely, when the second debate to this
draft agreement, 316 of 2020, “by which a debt quota is authorized for the Central Administration and the Public Establishments of the Capital District and other provisions are issued.” The speakers will be the councilors María Fernanda Rojas Mantilla, Sara Jimena Castellanos Rodríguez and Marisol Gómez Giraldo.
Keep reading:
– Failure gives way to Claudia López’s project in the seventh race.
– Why is the new platform of the Ministry of Finance failing?
DRAFTING BOGOTÁ
TIME
Twitter: @BogotaET
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