Changes to self-withholding and withholding tax rates for income tax
Decree 261 of 2023 increased the withholding tax and self-withholding tax rates for incomes related hydrocarbons and coal, along with the special withholding tax rates that taxpayers must apply according to their economic activity.
These new rates will be applicable from March 1, 2023, and are listed below:
- For the mining-energy sector, for payments or accruals for foreign currency from abroad for the export of hydrocarbons, coal, and other mining products, the rates will be as follows:
Export | Until February 28 | From March 1 |
Hydrocarbon exports. | 3% | 5,4% |
Coal exports. | 0% | 5,4% |
Exports of other mining products, including gold. | 1% | 1% |
- For special self-withholding tax, the rate applicable for each economic activity shall be:
Code of economic activity From-To | Rate |
0111-0322 | 0,55% |
0510-0610 | 4,50% |
0620 | 2,20% |
0710-0721 | 1,90% |
0722-0723 | 3,60% |
0729-0899 | 1,90% |
0910-0990 | 2,20% |
1011-3320 | 0,55% |
3511-3900 | 2,20% |
4111-4390 | 1,10% |
4511-4799 | 0,55% |
4911-6020 | 1,10% |
6110-6190 | 2,20% |
6201-9900 | 1,10% |
Want to know more?
Carlos Andres Molano Camelo Managing Partner Colombia - Bogota
