Individual Income Tax Return: Deadlines for Filing

By means of Decree 2442 of 2018, the Ministry of Finance established the tax calendar for 2019. The new version of article 1.6.1.1.13.2.15 that this decree introduces in DUT 1625 of 2016 contains the deadlines for filing the income tax return of natural persons.

We must remember that Law 1819 of 2016, for the taxable year 2017 established a new mechanism for the calculation of the income tax of natural persons; in such sense, the tax return in question for the taxable year 2018 to be filed during 2019 must be prepared by resorting to the ceding system which consists of dividing the annual income of the taxpayer according to five sources and then purging each group independently according to the procedure indicated in Article 26 of the Tax Statute-ET.

The following are the types of income that would be included in each of the aforementioned categories:

However, it should be noted that, the Financing Law 1943 of 2018, introduced major changes in tax matters for individuals responsible for income tax between the addition of new marginal rates and the unification of cédulas. Therefore, as of the taxable year 2019, the purification of the income will be determined independently based on three cédulas:

– Labor, capital and non-laborincome(general cédula).

– Pensionincome.

–Dividendsand participations (this item does not admit costs or deductions).

The purification of the income corresponding to each of the above categories will be made following the rules established in Article 26 of the ET, and the result will constitute the net taxable income.

Likewise, after the amendment of article 241 of the ET through article 26 of Law 1943 of 2018, new marginal rates corresponding to 35%, 37% and 39% are added to the table contained in the article in mention.

Obliged to file the income tax return

Individuals and unliquidated successions that during the taxable year have been liable for VAT (former common regime) and/or those who meet any of the following requirements are obliged to file the income tax return for the taxable year 2018:

Requirements to declare income for the taxable year 2018.

*Forthe calculation of the value in pesos the 2018 UVT ($33,156) was used.

Deadlines for filing the tax return

The new version of article 1.6.1.1.13.2.15 of DUT 1625 of 2016, indicates that obligated taxpayers must file the income tax return, having as maximum term the dates indicated in the following table and ranging from August 6 to October 17, 2019, with the obligation to make the payment in a single installment. For such purpose, the last digits of the NIT are taken into account, omitting the verification digit:

Large taxpayers natural persons

Large taxpayer individuals shall file their income tax return within the same deadlines as other taxpayers of such category, following the deadlines indicated in article 1.6.1.1.13.2.11 of Decree 1625 of 2016, as amended by article 1 of Decree 2442 of 2018; that is, between April 9 and April 25.

Individuals residing abroad

Individuals residing abroad, obliged to file the income tax and complementary tax return, must do so electronically and pay the tax in the same way or in banks and other authorized entities in Colombian territory, within the aforementioned deadlines.

Voluntary declaration

Article 6 of the ET, as amended by Article 1 of Law 1607 of 2012, establishes that individuals resident in the country, to whom withholding tax has been made at source and who are not obliged to file the income tax return, may do so voluntarily and it will produce legal effects.

Source: Actualize