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An overview of key tax considerations for private clients in Colombia, including coverage of tax residence and domicile, capital gains, inheritance, real estate and trusts.
Cybercriminals and the exposure of account information remain significant barriers for all stakeholders, with commercial banks now required to identify and collect holding information of customers to relevant authorities in a bid to fulfil tax obligations.
15 July 2021 Baker & McKenzie Colombia S.A.S To print this article, all you need is to be registered or login on Mondaq.com. Do you want to compare other jurisdictions?... Click here 1 Legislative framework The Colombian Tax Code (Law 2010/2019); Unique Tax Decree 1625/2016; and All enforceable double taxation treaties. 1.2 Do any special regimes apply to specific individuals (eg, foreign nationals; temporary residents)? Foreign nationals or temporary residents are subject to income tax only on Colombian sou...
How does an individual become taxable in your jurisdiction? An individual is subject to income tax in Colombia owing to residence status or upon deriving Colombian source income. Non-residents Non-residents are subject to income tax only on source income and they are only required to report income or assets derived or located in Colombia. Colombian source income refers to income from activities undertaken within Colombian territory and certain activities rendered from abroad. Applicable law refers to this as the provision of services inside Colombian territory, the transfer of assets ...