DECLARATION OF FOREIGN ASSETS FOR THE YEAR 2024

The declaration of assets abroad is a tax control measure that applies to those income taxpayers, in the ordinary or special regime, who have assets abroad of any nature as of January 1 of each year.

Who are obliged to file the declaration of assets abroad?

In accordance with article 607 of the Tax Statute, modified by article 63 of Law 2277 of 2022, those obliged to file the declaration of assets abroad are the taxpayers of income tax and income tax substitute regimes (simple regime) who are residents in Colombia for tax purposes and who as of January 1 of each year have assets abroad whose net worth value exceeds 2,000 UVT ($94,130,000 for the taxable year 2024).

What are the deadlines to file the declaration of assets abroad?

The deadlines to file the declaration of assets abroad corresponding to the year 2024 depend on the type of taxpayer, attending to the last or the last two digits of the NIT, without taking into account the verification digit, as follows:

For large taxpayers:

Last digit of TAX ID

Deadline (2024)

1

April 9

2

April 10

3

April 11

4

April 12

5

April 13

6

April 14

7

April 15

8

April 16

9

April 17

0

April 18

For legal entities:

Last digit of TAX ID

Deadline (2024)

1

May 10

2

May 14

3

May 15

4

May 16

5

May 17

6

May 20

7

May 21

8

May 22

9

May 23

0

May 24

For individuals:

Last digit of TAX ID

Deadline (2024)

Last digit of TAX ID

Deadline (2024)

01  02

August 12

51  52

September 18

03  04

August 13

53  54

September 19

05  06

August 14

55  56

September 20

07  08

August 15

57  58

September 23

09  10

August 16

59 y 60

September 24

11  12

August 20

61  62

September 25

13  14

August 21

63  64

September 26

15  16

August 22

65  66

September 27

17  18

August 23

67  68

October 1

19  20

August 26

69  70

October 2

21  22

August 27

71  72

October 3

23  24

August 28

73  74

October 4

25  26

August 29

75  76

October 5

27  28

September 2

77  78

October 8

29  30

September 3

79  80

October 9

31  32

September 4

81  82

October 10

33  34

September 5

83  84

October 11

35  36

September 6

85  86

October 15

37  38

September 9

87 y 88

October 16

39  40

September 10

89  90

October 17

41  42

September 11

91 y 92

October 18

43  44

September 12

93  94

October 21

45  46

September 13

95  96

October 22

47  48

September 14

97  98

October 23

49  50

September 17

99  00

October 24

For simple taxation regime:

Last digit of TAX ID

Deadline (2024)

1 y 2

April 15

3 y 4

April 16

5 y 6

April 17

7 y 8

April 18

9 y 0

April 19

How is the declaration of assets abroad filed?

Taxpayers must fill out form 160 prescribed by the DIAN through Resolution 000023 of 2022 to file the declaration of assets abroad. This is filed digitally only, through the services provided by the DIAN.

What penalties apply in case the declaration of assets abroad is not filed?

In the event that those obliged to file the declaration of assets abroad file it late, a penalty must be paid for each month or fraction of a calendar month of delay, in accordance with article 641 of the Tax Statute. The above does not apply in case the return is corrected, either to increase or decrease the value of assets abroad initially reported.

Likewise, in case the taxpayer does not file the declaration of assets abroad, the DIAN will prepare it ex officio, calculating the penalty, in accordance with article 643 of the Tax Statute.