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COLOMBIAN TAX AUTHORITY ISSUED THE PERSONAL INCOME TAX RETURN FORM

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COLOMBIAN TAX AUTHORITY ISSUED THE PERSONAL INCOME TAX RETURN FORM

Income Tax – Individuals

In 2018 Colombian tax residents will have to file their income tax return for the first time according to the characterization of the items of income

 

The last tax reform (Law 1819 of 2016) modified the system by which individuals are taxed. The reform established a system of computation by categories depending on the characterization of the item of income. Therefore, individuals will have to include the item of income in one of the following categories: labor income, pensions, income from capital, non-labor income and income from dividends and shares.

By means of Resolution No. 000032 of 2018, the Colombian Tax Authority issued Form No. 210 which will be used by individuals to file the personal income tax return for the first time according to the system of computation by categories. Due dates for filing the personal income tax return will begin on August 9th and will go until October 19th.