Until next February 28, merchants, entrepreneurs, micro and small entrepreneurs in the country have a deadline to register in the Simple Taxation Regime and enjoy the new benefits that the tax reform approved in 2022.
The benefits that stand out the most are a discount of 4×1000 in the tax to be paida decrease in rates (between 1.8 and 8.3 percent), expansion of the groups (it went from 4 to 6, including more economic activities), paying up to 7 taxes in a single receipt, improving their cash flow and discounts on hiring personnel, among others.
(Read also: Property tax: do you know how appropriate are the exempt and excluded properties?)
Likewise, another of the new characteristics of this system is that natural persons with gross income less than 148’442,000 pesos by 2023 (500 UVT), they will not have to pay bimonthly advances, they will only have to present the consolidated annual declaration.
Those who want to be part of this regime and enjoy these benefits must update their Single Tax Registry (RUT), through the electronic service of the RUT or App Dian (available Play Store and App Store), with the responsibility 47 Simple Tax Regime.
The term to carry out the registration process has been enabled since last January 1st and until next February 28. If the interested party is an entrepreneur who does not yet have a RUT, he may register for the Simple Tax Regime at any time of the year.
(Also read: Take note: these are the deadlines to declare and pay taxes in 2023)
The Directorate of National Taxes and Customs (Dian) clarified that the natural and legal persons that can be part of the RST are those with income less than 4,241’200,000 pesos by 2023 (100,000 UVT), and the specific group of liberal professions below 508’944,000 pesos by 2023 (12,000 UVT).
Likewise, on its website, the Dian enabled a simulator for those who are interested to compare How much money can you save on paying taxes? against the ordinary regime, and make the decision that best suits your tax reality.
La Dian assured that with these provisions that were seen in the tax reform, it is sought that «more entrepreneurs, merchants and businessmen can strengthen their business ideas to transform them into large companies and, in addition, they will become sources of employment and boosters of the economy.
