Guatemalan President seeks tax hike to pay for storm damage
Colom did not indicate whether the proposal will include the creation of new taxes or an increase in the rates of existing taxes, but he assured listeners that with the new measure the nation’s tax burden would increase between 1.5 and 1.9 percent of the country’s gross domestic product (GDP).
The president emphasized that Guatemalans are responsible for the reconstruction of their country, and ruled out seeking international aid for this purpose.
“I´m not going to go out and ask for money as long as we continue collecting a miserable 9.8 percent (of GDP) in taxes, which is an embarrassment,” Colom said.
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