X

GOVERNMENT INTENDS TO IMPLEMENT AN EQUITY TAX FOR INDIVIDUALS IN YEARS 2019 AND 2020

logo

GOVERNMENT INTENDS TO IMPLEMENT AN EQUITY TAX FOR INDIVIDUALS IN YEARS 2019 AND 2020

Equity tax and voluntary disclosure program

Individuals whose net equity is greater than COP$3,000,000,000 (approx. US$937.000) as of January 1st 2019 would be subject to the new tax

 

The Government proposes to implement again an equity tax for years 2019 and 2020 for individuals whose net equity is greater than COP$3,000,000,000 (approx. US$937.000). Foreign companies or entities that are not income tax filers in Colombia but own assets located in the country would also be subject to this tax. The applicable rate for this tax is the following:

Table 1