After the well-known tax reform approved last November, several forms and financial duties of the Colombian population changed. Among these modifications is that some people, natural and legal, will have to pay a wealth tax.

(Also: This is how you can schedule an appointment to carry out tax procedures in the SuperCADE)

In the same way, and as required by law, the Tax Value Unit (UVT) has also been modified. For this 2023, they will be located at $42,412.

The natural and legal persons who must pay the permanent wealth tax are those who have a net worth (assets minus liabilities) of more than 72,000 UVT.

Also remember that it is a progressive tax, so the higher your net worth is, more will be deducted in taxes; 0.5% for the lowest fortunes and 1.5% for the highest.

(In addition: neighboring properties to road works would pay a whole tax for valuation)

«As of 72,000 UVT ($3,053 million in 2023) a rate of 0.5% applies, between 122,000 ($5,174 million) and 239,000 UVT ($10,136 million) the rate will be located at 1%, and from 239,000 UVT there will be a rate of 1.5% for five years,» explains Portafolio.Remember that from 2027, all assets greater than 122,000 UVT will pay a rate of 1%.

So you should calculate it

The formula should be done like this:

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For those who pay 0.5%:
(UVT Recordable Base – 72,000 UVT)* 0.5%

For those who pay 1%:
(UVT Recordable Base – 122,000 UVT)* 1% + 250 UVT

For those who pay 1.5%:
(UVT Recordable Base – 239,000 UVT)* 1.5% + 1,420 UVT

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