Colombia Tax Tables 2024 - Tax Rates and Thresholds in Colombia
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This page contains the tax table information used for the calculation of tax and payroll deductions in Colombia in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ CO, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Colombia or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
Related Calculators
Colombia Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Colombia are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Colombia Tax Calculator 2024.
Colombia Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)Tax Rate | Taxable Income Threshold |
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0% | Income from ₱ 0.000.00 | to | ₱ 1,090.00 |
19% | Income from ₱ 1,090.01 | to | ₱ 1,700.00 |
28% | Income from ₱ 1,700.01 | to | ₱ 4,100.00 |
33% | Income from ₱ 4,100.01 | to | ₱ 8,670.00 |
35% | Income from ₱ 8,670.01 | to | ₱ 18,970.00 |
37% | Income from ₱ 18,970.01 | to | ₱ 31,000.00 |
39% | Income from ₱ 31,000.01 | | and above |
Colombia Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)Tax Rate | Taxable Income Threshold |
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35% | Flat rate on all taxable income |
In Colombia, social security deductions made by employees are generally deductible when calculating taxable income. This means that the contributions towards social security programs, such as pension, healthcare, and occupational risk insurance, can be subtracted from an individual's gross income. As a result, these deductions lower the taxable income of employees, thereby reducing their overall income tax liability. This practice aligns with Colombia's tax policy, which aims to provide some relief to employees by recognizing their contributions towards social security in the income tax calculation.
Colombia Social Security and Payroll Deduction Rates in 2024
In Colombia, the social security system involves contributions from both employees and employers, which are directed towards various social welfare programs. These programs are designed to provide benefits and support to workers and their families.
Colombia Social Security in 2024: Rates for Employers and EmployeesCategory | Employee | Employer | Total |
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Pension Solidarity Fund | 4% | 12% | 16% |
Medical plan | 4% | 8.5% | 12.5% |
ARL | 0% | 6.96% | 6.96% |
Parafiscales - Clearing Box | 0% | 4% | 4% |
Parafiscales - ICBF | 0% | 3% | 3% |
Parafiscales - Seine | 0% | 2% | 2% |
Colombia Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and EmployeesCategory | Employee | Employer |
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Min. | Max. | Min. | Max. |
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Pension Solidarity Fund | n/a | n/a | n/a | n/a |
Medical plan | n/a | n/a | n/a | n/a |
ARL | n/a | n/a | n/a | n/a |
Parafiscales - Clearing Box | n/a | n/a | n/a | n/a |
Parafiscales - ICBF | n/a | n/a | n/a | n/a |
Parafiscales - Seine | n/a | n/a | n/a | n/a |
Pension Contributions
Contributions to the pension system are a significant part of social security in Colombia. These funds are allocated to provide retirement benefits to employees, ensuring financial support during their post-employment years.
Healthcare Contributions
Healthcare contributions are essential for funding Colombia's healthcare system. These contributions provide access to medical services and healthcare coverage for employees and their dependents.
Occupational Risk Insurance
Occupational risk insurance, funded by employer contributions, provides coverage for work-related accidents and illnesses. This includes medical care and compensation for work-related injuries or occupational diseases.
Family Welfare Contributions
Family welfare contributions support various family welfare programs, including childcare services, recreational activities, and family subsidies. This element of social security aims to improve the quality of life for employees and their families.
Unemployment Insurance
Unemployment insurance provides financial assistance to employees who lose their jobs. This system offers support during periods of unemployment, helping individuals as they search for new employment opportunities.
These social security and payroll deductions in Colombia play a crucial role in supporting the workforce, enhancing the welfare of employees and their families, and contributing to the country's economic stability.
Colombia VAT Rates in 2024
VAT rates for Colombia are reviewed annually, you can use the VAT Calculator to calculate VAT due in Colombia or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Colombia VAT RatesVAT Rate | VAT Description |
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0% | Zero Rated |
5% | Reduced Rate |
19% | Standard Rate |
Historic Tax Tables supported for Colombia
The following tax tables are supported by iCalculator™ CO as part of the suite of free tax tools we provide for Colombia.