When you decide to incorporate a business in Colombia, you will become part of the Colombian tax system. Determining how much tax you must pay can be slightly complicated, due to different tax brackets for residents and foreign companies. For someone who doesn't understand the local tax declaration processes that apply to them, this can be a daunting prospect.
Residents of Colombia are taxed on worldwide income, while non-residents are only taxed on their income from Colombia. A non-resident is considered someone who spends less than 183 days in the country during a tax year. For this reason, we recommend you partner with a local agent who can assist you in complying with the accounting and tax requirements in Colombia and give you tax advice for your specific situation.
In order to keep up with this progressive economy's legal and fiscal system, our local accounting experts have put together a presentation of the most important accounting and tax requirements you should be aware of.
With our senior accountants in Colombia, we aim to provide expertise from a true local expert. If you are starting commercial activities or have spent more than 183 days in the country, you need to be in the know.
For more information about our accounting and taxation services in Colombia, please get in contact with our local team.
Learn more about our accounting and legal experts, and the accounting and taxation support we can provide.