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Main changes introduced by the tax reform

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Main changes introduced by the tax reform

Main changes introduced by Law 2277 of 2022, our discernment on the subject of national or territorial taxes, the tax procedure, the sanctioning regime, will be the topics to be discussed in this space of the Tax Office.


By: José Hilario Araque Cárdenas, tax adviser and consultant.

Juan Diego Araque Durán, lawyer specializing in tax law.

In our capacity as partners and leaders of the tax and legal practice of the firm Araque Asociados Tax and Legal Consultants, we resume this space for tax opinion that this prestigious newspaper has allowed us to write for more than 12 years, now taking advantage of the opportunity to comment on the main changes introduced by Law 2277 of 2022, through which a tax reform is adopted with the purpose, as described in its article 1, of supporting social spending in the fight for equality and social justice.

Our discernment on the subject of national or territorial taxes, the tax procedure, the sanctioning regime, as always, we have addressed it in this space, with the presentation of topics that deserve the greatest interest for the businessman, for the accountant or fiscal auditor of the company and for the academic community, or based on the queries that our readers raise on the website www.araqueasociados.com, with simple language and clear comments, given our experience in management, systematization, reading, interpretation and application of tax law in business and academic activity.

Well then, the main changes introduced by the tax reform are: (i) against natural persons: the reduction of tax benefits for work income, the taxable base and progressive marginal rates for the general identity card; (ii) against legal persons: a new presumptive income system called the “Minimum Tax Rate” is created, the 50% ICA can be treated as a tax discount is repealed, surcharges for financial entities, tax rates are modified income tax; some exempt income is repealed, some benefits and tax incentives are limited; (iii) other aspects: the occasional profit rate is increased, the wealth tax became permanent, the dividend rate is increased, the new rules of the mechanisms to fight against evasion, the temporary reduction of late sanctions , correction and default interest; and other provisions that aim to improve the principle of tax efficiency, among other aspects that we will analyze in this space.

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This tax, although it contains certain factors that encourage the improvement of the environment, healthy food and social spending, continues to be for collection purposes; However, finally the national government managed to carry out a tax, where, one of its fundamental pillars is that those with higher incomes and greater tax capacity settle the income tax with a higher rate within the progressive scheme of article 241. of the Tax Statute.

Precisely, on social networks we have just launched an executive summary of this reform, whose first topics of analysis we will begin to address from the next column next Monday.

The topics that we are going to begin to discuss correspond to the new provisions that as of this year 2023 begin to be applied for the income tax of natural persons residing in the country and illiquid successions of deceased who were residents at the time of their death. , So:

  1. The 25% exempt income ceiling for work income is reduced to only 790 annual UVT ($33,505,000 base year 2023), when until the taxable year 2022 you are entitled to up to 2,880 annual UVT ($109,452,000).
  • The limit of the tax benefits of the general certificate, under the scheme, that these cannot exceed 40% of the net income and that in any case up to 1,340 UVT ($56,832,000), when until the taxable year 2022 one is entitled up to 5,040 UVT) ($191,540,000).
  • However, the worker may additionally deduct without limit 72 UVT ($3,054,000) per year for each dependent and up to 4 dependents, and 1% of the value of purchases of goods and services supported by an electronic sales invoice and that have been paid by electronic or bank means without exceeding 240 UVT ($10,179,000).
  • In the purification of capital and non-labor income, costs and expenses that meet the general requirements for their origin and that are attributable to these specific incomes may be subtracted.
  • Costs and expenses associated with work income that do not come from an employment relationship may also be subtracted, in which case, it is decided to subtract these or the exempt income of 25%.
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The opinions are the responsibility of the partners of Araque Asociados Consultores Tributarios y Legales. We rely on the understanding of current regulations and knowledge of tax law, and may not be shared by the tax authorities. Consult us at www.araqueasociados.com Questions and suggestions in the mail: [email protected] Personalized attention: Carrera 5 No. 14-32 offices 5, 7 and 8 Pasaje de la Quinta de Neiva, Huila, telephones 321 452 3315.

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