4 June of 2020
Income tax advancement reduced for 2020

Within the framework of the health emergency generated by COVID-19 and due to the general decrease in income received by most Colombian tax residents, the National Government reduced the value to be paid as a prepayment on the income tax for taxable year 2020.

Thus, Decree 766 of May 29, 2020 established that the taxpayers benefiting from the measures will be those whose economic activities fall in Division 4.0 of the International Standard Industrial Classification (ISIC). 

Therefore, activities that fall under the following codes of the ISIC 4.0 division, the percentage to which the advance payment is reduced is 25%: 06, 08, 09, 12, 13, 14, 15, 16, 19, 23, 24, 25, 26, 29, 30, 21, 33, 41, 42, 45, 45, 59, 271, 273, 275, 321, 324, 475, 742, 772, 823, 952.

Meanwhile, activities falling under the following codes of the ISIC 4.0 division, the percentage to which the advance is reduced is 0%: 51, 55, 56, 79, 90, 91, 92, 93.
 

 

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