Income tax return: facilities you can access to comply with the tax

The income tax return filing season for individuals in Colombia begins on August 12. This annual process involves reporting income, expenses, assets, deductions, taxes payable, or outstanding balances to the National Tax and Customs Directorate (DIAN) for the period from January 1 to December 31, 2024.

It's important to keep in mind that filing an income tax return doesn't necessarily mean paying taxes. Some returns have a zero total due, and they may even have a balance in their favor. However , failure to file a return on the due date can result in a financial penalty of approximately $498,000 in 2025, which may increase depending on the number of days late .

(More: Take note: How you can correct your 2025 income tax return in Colombia .)

Also, if there's a balance due, it may accrue interest. The filing deadline depends on the last two digits of the person's ID card .

The deadline begins on August 12 for ID numbers ending in 01 and 02, and ends on October 24 for those ending in 99 and 00. According to the DIAN (National Tax Agency), approximately 6.7 million people will need to file income tax returns this year.

Streamline your process

To avoid setbacks when paying income tax, it is recommended to save in advance and take advantage of the alternatives offered by financial institutions. Channels such as the PSE ( Public Service of the State of Mexico) and physical branches are alternatives taxpayers can use to quickly complete the process.

(More: Income Tax Return: Why Using Income Tax Help Can Help You Avoid Mistakes ).

Bancolombia , for example, offers options for financing tax payments, including credit card payments, payroll deductions, Crediágil, and open-ended loans, among others.

Obtain certifications

Having your certificates, statements, and documentation in order helps streamline the tax return process. Bancolombia offers its customers channels such as the Virtual Personal Branch and Tabot , which allow them to obtain tax certificates, bank statements, and other key information for this process.

(You may be interested in: In what cases must your income tax return be signed by an accountant or tax auditor? ).

Tabot, the bank's virtual assistant on WhatsApp, provides customers with information on balances, transactions, branch locations, and other services . It can be reached by calling 301 353 6788, identified by the green verified account icon.

On the other hand, there are tax benefits for items such as healthcare payments, education, savings in AFC accounts , paying interest on housing, or having dependents. Each case is different, so it's important to consult a tax advisor to confirm which ones apply to you.

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