The 2024 Colombian tax filing season is upon us and the dates are approaching for individual persons to begin filing their income tax return with the Dirección de Impuestos y Aduanas Nacionales (DIAN – National Tax and Customs Directorate).
The tax calendar indicates that the first deadline for taxpayers in the country to file and make the corresponding payments (if any) for the tax filing period for year 2023, is August 12, 2024.
To avoid being caught off guard by this payment, consider some aspects that could help you fulfill this obligation.
Who should file a tax return?
Disclaimer: barranquilla.guide takes no responsibility for the incorrect or late filing of tax returns. We recommend you seek the advice of a tax professional.
In order to determine if someone needs to file a tax return or not, some factors such as income, assets, purchases, salaries, and transfers from the previous year must be taken into account. DIAN establishes annual thresholds to determine who must fulfill this obligation.
You should speak with an accountant to see if you are required to file your taxes or not. The deadline to file your taxes depends on the last two digits of your cédula de ciudadanía if you’re Colombian. If you have a cedula de extranjería, it depends on the last two numbers of your NIT found in box 5 of your RUT. If you do not have a RUT (Registro Único Tributario), please speak with your accountant as soon as possible. You cannot file your 2023 tax return without this document. Filing late will result in a penalty of over $400,000 COP.
Question 1: Are You a Tax Resident?
You are considered a tax resident if you have been in Colombia more than 183 days over a 365-day period. Keep in mind that this is NOT a calendar year analysis. You have to literally count the days you have been in Colombia over any 12-month period. If yes, you are technically a tax resident.
Question 2: I Am a Tax Resident. Do I Have to File?
In general, you have to file if:
- The value of your total assets exceeds COP $190,854,000 (this includes the value of your real estate, vehicles, etc); OR
- Total annual income exceeds COP $59,376,800; OR
- Total purchases via a credit card exceed COP $59,376,800; OR
- Total purchases via any other method exceed COP $59,376,800; OR
- Total banking activity (deposits, transfers, etc…)/financial investments exceed COP $59,376,800. This includes transfers to yourself from abroad.
What is the penalty for not filing or filing my income tax late?
- Minimum penalty: In 2024, the minimum penalty for non-compliance or incorrect compliance with tax obligations is $471,000 COP. This means that if the taxpayer files one day after the established deadline, they will have to pay this amount, even if the taxpayer is not liable to pay any income tax.
- Penalty for lateness: There is also a penalty for lateness, which amounts to 5% of the tax payable and increases for each month or fraction of a month that passes between the payment due date and the date the income tax return is filed.
When is the deadline to file?
The deadlines for filing your income tax return for the 2024 Colombian tax filing season is determined based on the last two digits of your cédula de ciudadanía (if you are a Colombian citizen) or tax identification number (NIT) if you are a foreigner, which is assigned by the National Tax and Customs Directorate (DIAN) to identify taxpayers.
The established deadlines to fulfill this obligation start on August 12 and end on October 24, 2024.
The deadline is based on the last two digits of your NIT:
August deadlines
Here is the translation into English:
August 12: NIT ending in 01-02
August 13: NIT ending in 03-04
August 14: NIT ending in 05-06
August 15: NIT ending in 07-08
August 16: NIT ending in 09-10
August 20: NIT ending in 11-12
August 21: NIT ending in 13-14
August 22: NIT ending in 15-16
August 23: NIT ending in 17-18
August 26: NIT ending in 19-20
August 27: NIT ending in 21-22
August 28: NIT ending in 23-24
August 29: NIT ending in 25-26
September deadlines
Here is the translation into English:
September 2: NIT ending in 27-28
September 3: NIT ending in 29-30
September 4: NIT ending in 31-32
September 5: NIT ending in 33-34
September 6: NIT ending in 35-36
September 9: NIT ending in 37-38
September 10: NIT ending in 39-40
September 11: NIT ending in 41-42
September 12: NIT ending in 43-44
September 13: NIT ending in 45-46
September 16: NIT ending in 47-48
September 17: NIT ending in 49-50
September 18: NIT ending in 51-52
September 19: NIT ending in 53-54
September 20: NIT ending in 55-56
September 23: NIT ending in 57-58
September 24: NIT ending in 59-60
September 25: NIT ending in 61-62
September 26: NIT ending in 63-64
September 27: NIT ending in 65-66
October deadlines
Here is the translation into English:
October 1: NIT ending in 67-68
October 2: NIT ending in 69-70
October 3: NIT ending in 71-72
October 4: NIT ending in 73-74
October 7: NIT ending in 75-76
October 8: NIT ending in 77-78
October 9: NIT ending in 79-80
October 10: NIT ending in 81-82
October 11: NIT ending in 83-84
October 15: NIT ending in 85-86
October 16: NIT ending in 87-88
October 17: NIT ending in 89-90
October 18: NIT ending in 91-92
October 21: NIT ending in 93-94
October 22: NIT ending in 95-96
October 23: NIT ending in 97-98
October 24: NIT ending in 99-00
Did you file a tax return in 2023? You’ll notice that the minimum taxable amounts have risen and will rise every tax year.
Good luck with this year’s tax filing season!
[…] 2024 Colombian tax filing season […]