Country Profile: Colombia

Tax to GDP ratio: 19.652%

Progressive Vertical Index (PVI): 1.3046 — Progressive

Aviation:  No information available

Financial Transactions Tax (FTT): No tax in place

Oil & Gas Revenues:

  • Total government revenue from oil & gas in 2022: $9.6 billion
  • Share of oil & gas activity covered: 100%

Source: ICTD

These figures represent an aggregate of fossil fuel revenues collected through various fiscal instruments, including royalties, taxes, and production entitlements.

Carbon Pricing:  Yes – Carbon pricing instrument in place

  • Instruments: National Carbon tax, National ETS
  • Emissions covered: 0.2%
  • Price: COP25,800 (US$6.68)
  • Revenue: COP575,274 million (US$124 million)
  • Sectors covered: Electricity and heat, Industry, Mining and extractives, Transport, Aviation, Buildings, Agriculture, forestry and fishing fuel use
  • Offsetting: Yes, unlimited

Source

swSwahili