“Works are love and not good reasons,” said Don Miguel de Unamuno at the beginning of the last century, and it is a phrase well internalized by businessmen in Colombia, who saw a great opportunity in the “Work for Taxes” program to get closer Reach out to communities and address urgent needs that the state was unable to address in a quick and timely manner.
It should be made clear that this is not money out of the companies’ pockets, but part of the income tax they would have to pay to the DIAN and that the state allows them to invest directly in a bank of projects that the communities most affected by the armed conflict have given them priority.
These include basic sanitation works, road infrastructure, educational facilities, water pipes and sewers, access to ICT and environmental protection, which would be very cumbersome for the government.
Therefore, companies take responsibility for these needs, placing the money in trust, but also designing, executing and tracking the execution tools. They deliver in record time and all three are happy: business, community and state.
This mechanism became operational in November 2017 and since then Antioquia has monopolized a large part of these resources.
In the past two years alone, this department’s Prioritized Sub-Regions with Territorial Focus Development Programs (PDET) and Conflict Hardest-Affected Zones (Zomac) have attracted 19 works for $200.120 million.
By 2023, Antioquia has resources of US$115,280 million, followed by Valle del Cauca with an investment of US$53,000 million, ie Antioquia occupies more than double what corresponds to the second department.
Tomorrow is the deadline for companies to apply for the Mechanism’s second semester awards. According to the Territory Renewal Agency, 23 projects are available for nearly $200 billion. (See grafic)
95% of Works for Taxes resources are managed by Fiduprevisora. As explained above, the companies place the resources in a trust to ensure that they exist and are used in the projects.
As a financial institution of the Treasury, Fiduprevisora has a complete technical and financial team to help companies carry out the work they choose.
Mauricio Marín Barbosa, President of the company, explained that all this expertise is put at the service of business people so that they can achieve better results using these resources.
“It’s very nice to see how you can work with taxes. Often people complain about the pain of paying taxes because their money is stolen, but here this tax is given with love and with the satisfaction of transforming the lives of those who need it most,” he said Barbosa.
In the case of Antioquia, there are companies such as Hocol, Haceb, Sumicol, Zeuss, Novaventa, Celsia, Tecnass, Alico, Isagen, Industrias Aliadas, Contegral, Hidroeléctrica del Alto Porce, Finca, Transport Logistics, Cenit, Mincivil, Kopps, Sura, Boehringer Ingelheim , Bancolombia, Microplast, Arquitectura y Concreto, Alternativa de Moda and Mineros Alluvial already contribute part of their taxes to the mechanism and encourage others to do the same.