Colombia - Commerce Data - TKEG Expat ™ (Canada)

TKEG Expat ™ (Canada) Business Guide

Republic of Colombia

Corporate Services in Colombia

Business-friendly environment:

Colombia requires all companies to comply with International Financial Reporting Standards (IFRS), also known as NIFF, to ensure compliance is crucial, and violations may result in substantial fines.
Tax incentives:

Colombia offers a variety of tax incentives, including reductions in taxable base, deductions from payable taxes, and refunds of paid taxes to taxpayers. These incentives involve income tax or value-added tax (VAT), which are the main taxes collected by the Colombian government.
Specific tax regimes:

In addition to corporate income tax, Colombian companies may also face carbon tax and registration tax. The carbon tax is based on the carbon content of fossil fuels. The registration tax rates vary depending on the circumstances, with rates for documents registered with the Chamber of Commerce ranging from 0.3% to 0.7%, and rates for documents registered at the notary's office ranging from 0.5% to 1%.
Tax rate reductions for specific companies or sectors:

Certain companies, such as state-owned and mixed economy companies, publishing companies, hotels and theme parks, and non-profit entities, enjoy a 9% income tax rate incentive. Qualified enterprises within free trade zones benefit from a 20% reduced tax rate. Additionally, income from Colombia's rural development, unconventional energy sales, and technological value-added industries and creative activities is exempt from tax.

Tax Info

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Administrative Regions

AMA - Amazonas Department
ANT - Antioquia Department
ARA - Arauca Department
ATL - Atlántico Department
BOL - Bolívar Department
BOY - Boyacá Department
CAL - Caldas Department
CAQ - Caquetá Department
CAS - Casanare Department
CAU - Cauca Department
CES - Cesar Department
CHO - Chocó Department
COR - Córdoba Department
CUN - Cundinamarca Department
GUA - Guainía Department
GUV - Guaviare Department
HUI - Huila Department
LAG - La Guajira Department
MAG - Magdalena Department
MET - Meta
NAR - Nariño Department
NSA - Norte de Santander Department
PUT - Putumayo Department
QUI - Quindío Department
RIS - Risaralda Department
SAN - Santander Department
SAP - Archipelago of Saint Andréws, Providence and Saint Catalina
SUC - Sucre Department
TOL - Tolima Department
VAC - Valle del Cauca Department
VAU - Vaupés Department
VID - Vichada Department

Belonging Jurisdiction

CO - Colombia

Republic of Colombia
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USAN - Union of South American Nations

Union of South American Nations
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WORLD - Global

Earth
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TKEG Expat ™ (Canada) Guides

Colombia | Company Incorporation

Company formation Colombia for owners abroad

October 2, 2026

For company formation, Colombia relies on the commercial register (registro mercantil) kept by the Chamber of Commerce (Cámara de Comercio) of the company's domicile. No company may trade until…

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Republic of Colombia

Business-friendly environment:

Tax incentives:

Specific tax regimes:

Tax rate reductions for specific companies or sectors: