Individual income tax
The highest marginal tax rate applicable for individual tax residents in Colombia is proposed to increase from 39% to 41%. This would apply to individuals with annual taxable income exceeding 31,000 tax units (approx. US$365k).
The 1% deduction for purchases supported by electronic invoicing is proposed to increase to 5% in 2025, decline to 3% in 2026, and revert to 1% from 2027 onward.
Other proposed changes include: (i) eliminating the so-called «procedure #2» for labor withholding tax from February 2025, which generally allows a lower withholding; (ii) introducing an automatic reimbursement system for taxpayers who receive more than 80% of their income from labor and meet certain other requirements; and (iii) applying general tax rates, rather than progressive withholding tax, for fees, services and commissions when taxpayers choose to claim costs and expenses on their individual income tax returns.

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Fuente: EY