Tax Compliance 2025 Individuals
In accordance with Ruling 162 of 2023, modified by Ruling 000188 of 2024, individuals who have obtained incomes from the following concepts and amounts (*) are obliged to file electronic information corresponding to the fiscal year 2024:
a. Gross incomes equal or higher than $555,367,000 in fiscal year 2024.
b. Gross incomes equal or higher than $112.956.000 in the year 2024 received for the following concepts:
1. Capital income: those obtained by concept of leases, financial yields, among othe.
2.Non-labor income: all those different from i) labor income (e.g. salaries, fees, commissions), ii) dividends, iii) pensions and iv) capital gains.
(*) It is necessary to comply with both assumptions (a and b) to be obliged.
Additionally, the Ruling established that the individuals who applied to the Simple Taxation Regime that during the taxable years 2024 will be obliged to submit the electronic information report, regardless of the type of income, if they have obtained gross incomes equal or higher than $555.367.000
Finally, if you comply the requirements, this obligation will be done between May 14th and June 13th, 2025 (the deadline in each case will depend on the last digits of the tax ID)
2. Wealth tax 2025
Wealth tax is levied on national or foreign individuals, illiquid inheritances, as well as foreign companies or entities that are not income tax filers and that own assets located in Colombia, with some exceptions.
Such tax is triggered by the possession of liquid assets equal or higher than 72,000 UVT (COP $3,585,528,000) as of January 1st, 2025, and its tax return must be filed between May 12th and 23rd according to the last digit of your tax ID.
3. Income Tax 2025
In accordance with Section 592 of the Colombian Tax Code, income tax return for the taxable year 2024 must be filed by tax residents who meet one of the following conditions:
a. Obtaining gross incomes higher than 1,400 UVT (COP$65,891,000) during the year 2024.
b. Having a gross net worth more than 4,500 UVT (COP $211,792,500) during the year 2024.
c. Purchases through credit cards higher than 1,400 UVT (COP$65,891,000) during the year 2024.
d. Purchases for a value higher than 1,400 UVT (COP$65,891,000) during the year 2024.
e. Bank deposits, deposits or financial investments greater than 1,400 UVT (COP$65,891,000) during the year 2024.
Non-tax residents only must file the income tax in Colombia related to the national source incomes, if such incomes were not subject to withholding tax for payments abroad (Sections 407 and 408 of the Colombian Tax Code).
This obligation must be complied between August 12th and October 24th
4. Assets from abroad return 2025
Finally, it is important to consider that Colombian tax residents who own assets abroad for a value higher than 2,000 UVT (COP $99,598,000) must comply with the obligation to file the assets from abroad return in the same due date of the income tax return.
