Taxation in Colombia

The taxation system in Colombia is governed by the National Tax and Customs Directorate (DIAN). The main taxes in Colombia include the following:

1. Value-added tax (VAT): VAT is a tax on the sale of goods and services. The standard VAT rate in Colombia is 19%.
2. Income tax: Individuals and businesses in Colombia are required to pay income tax on their earnings. The income tax rate for individuals ranges from 0% to 33%, depending on the amount of income earned. The corporate income tax rate is 25%.
3. Property tax: Property owners in Colombia are required to pay a tax on the value of their property. The tax rate is based on the value of the property, with higher-valued properties being taxed at a higher rate.
4. Social security contributions: Employers and employees in Colombia are required to make contributions to the social security system. The contributions are used to fund social security benefits, such as retirement, disability, and health care.
5. Excise taxes: Some goods, such as alcohol and tobacco, are subject to excise taxes in Colombia. The rates for these taxes vary depending on the type of product.

It is important to note that tax laws in Colombia can be complex and may change frequently. It is advisable to seek the advice of a tax professional or lawyer if you have questions about taxation in Colombia.