Colombia Forum

fecherklyn
Joined 2015
Posts: 1382

2 years ago

How much?

2 years ago

It may interest one, or two of you, to know the Ban Rep announced the “Valor del UVT (Unidad de valor tributario) for the Colombian 2022 tax year.

The rate for 2022 will be COP 38,004, an increase of 4.67% on the 2021 rate of 36,308. This increase is pretty much in line with the expected 2021 rate of inflation.

Given the UVT is the basis for all Colombian tax liabilities, you need to know how it is applied if you want to understand the tax implications of residing here as a “tax resident”.

According to the current tax regulations, the first 1,090 UVT of Colombian taxable incomes are FREE of taxation. Thus, the first COP 41,424,360 (say US$ 10,900) of taxable incomes in 2022 will bear zero Colombian tax.

Thereafter, incomes beyond the above threshold bear tax at a rate of 19% (UVT 1,090 to UVT 1,700), and then 28% for the UVT 1,070 to UVT 4,100 range.

Of course, this rate progression can change at any moment and with the DIAN searching everywhere for extra tax collection to pay for Covid, it might be surprising if we do not see some movements soon.

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