The 4X 1,000 tax, which is charged on bank transactions and which collects four pesos for every 1,000 that the user makes through a bank account would be dismantled with the new tax reform for movements less than $13.3 million per month, explained the new director of the Dian, Luis Carlos Reyes, through his social networks.
(The taxes that could be modified or eliminated, according to experts).
In a message accompanied by an image with part of the text of the reform bill, the official pointed out that currently there is already an exemption for a single marked bank account, but that If the initiative is approved, the banks must consolidate information among themselves so that the exemption applies without the need to mark the account.
The 4 x 1,000 is over for those who make movements of less than $13.3 million per month.
An exemption already exists for a single marked bank account. From now on, the banks will have to consolidate information among themselves so that the exemption applies without the need to mark the account. pic.twitter.com/YBLBCkudXi
– Luis Carlos Reyes (@luiscrh) August 10, 2022
Reyes specifically cites article 64: “Add article 881-1 to the Tax Statute, as follows: ARTICLE 881-1. CONTROL OVER OPERATIONS AND AMOUNT EXEMPT FROM THE TAX ON FINANCIAL MOVEMENTS. The withholding agent institutions of the Tax on Financial Movements must adopt a control system that allows the verification, control and retention of the Tax on Financial Movements in the terms of article 879 of the Tax Statute in such a way that it is possible to apply the exemption of three hundred and fifty (350) monthly UVT indicated in numeral 1 of article 879 of the Tax Statute without the need to mark a single account “.
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