On May 28th, 2025, the Colombian Finance Department issued decree 572 to increase self-withholding rates and reduce minimum amounts for withholding taxes purposes, effective as of June 1, 2025.
The minimum amount subject to withholding taxes for services has been reduced from 4 UVT (COP $199.196) to 2 UVT (COP $99.598).
The minimum amount subject to withholding taxes for other income has been reduced from 27 UVT (COP $1.344.573) to 10 UVT (COP $497.990).
In the acquisition of real estate for residential use, the amount to which the 1% rate applies has been reduced from 20.000 UVT (COP $995.980.000) to 10.000 UVT (COP $497.990.000). The applicable rate to the excess remains at 2.5%.
The minimum amount to which withholding tax applies to ecclesiastical retributions has been reduced from 27 UVT (COP $1.344.573) to 10 UVT (COP $497.990).
The applicable withholding tax rate to gold purchases made by international trading companies has increased from 1% to 2.5%.
The minimum amount to which withholding taxes apply in acquisition of agricultural goods or products without industrial processing is reduced from 92 UVT (COP $4.581.508) to 70 UVT (COP $3.485.930).
Several self-withholding tax rates for economic activities are increased as described in the annex.
