Colombia Forum

TRNTNDR
Joined 2016
Posts: 80

3 years ago

Deductions for "impuestas" from cuenta de ahorros

3 years ago

This is a new one on me, after living in Colombia for more than 10 years.

I have always had a cuenta de ahorros, but only kept a minimum amount of money in it. However, as part of my strategy to eliminate as many of my assets in Colombia as possible, I recently sold my apartment and deposited the money from the sale into my bank account, with the intention of living off that money until it's all gone, while accumulating savings in my bank in Canada, where I receive my various pensions.

I immediately noticed that with almost every withdrawal or debit, there appeared a small deduction entitled "Impto Gobierno 4x1000". While each withdrawal is minuscule, it does add up. The total impuestos taken in this way in January were 145,292 COP (but I have to concede that I did make one very large ""one time" withdrawal, which accounted for more than 100,000 of the total impuestos deducted)

In addition there is category called "Abono Intereses Ahorros" and another called "Comision Retiro Tarj Sucursal" (the latter is a fixed fee of 9,290 COP for each transaction), both charged by the bank - Bancolombia in this case.

All of these are quite small deductions, but if you are using your debit card and bank account here in Colombia extensively they do add up.

Just a "heads up", and any comments would be appreciated

By the way, yes I do pay a fee to my bank in Canada too, but that's a once a month fixed amount deduction

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