The Difficulties That the Process to Change the 4x1,000 This Year Presents

Tax attorney Juan Pablo Díaz was cited in an article published by La República detailing changes to Colombia's 4x1,000 tax that take effect Dec. 13, 2024. Beginning on this date, all bank accounts will be exempt from the tax, as opposed to only one previously. However, the technological providers tasked with carrying out this change, TransUnion and Passport, have not reached an agreement on how to go about the process. Mr. Díaz commented that these operational difficulties could hinder the ability to take advantage of the new measure.

"An eventual delay would imply that the practice of limiting taxpayers to mark only one account exempt from the 4x1,000 would be maintained," he said.

READ: The Difficulties That the Process to Change the 4x1,000 This Year Presents