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Post by bickmed on May 16, 2016 12:50:54 GMT -5
Hi there. For property above 127,000,000 pesos, one has to complete the Declaration de Renta in Colombia. Has anyone filed this after not doing it for a number of years and, if so, what (or were there) any fines involved?
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Post by elexpatriado on May 16, 2016 14:28:56 GMT -5
I don´t have property , so I do´t know for sure. But what I have seen from other guys that do have property and don´t do a Declaracion De Renta, the fine is "Zero" if you don´t bring it to Dian´s attention in the first place..i.e. don´t kick a sleeping dog....
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Deleted
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Post by Deleted on May 16, 2016 15:35:51 GMT -5
Hi there. For property above 127,000,000 pesos, one has to complete the Declaration de Renta in Colombia. Has anyone filed this after not doing it for a number of years and, if so, what (or were there) any fines involved? I filed for the first time last year. My accountant said that I should have filed for 2013. I had the option of filing a late declaration or just doing nothing. If DIAN decides to audit me, I may have some explaining to do. So, far (knock on wood), I have heard nothing from DIAN. DIAN has a two-year window to review your declaration.
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Post by livinginmedellin on May 16, 2016 16:12:05 GMT -5
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Post by elexpatriado on May 16, 2016 20:00:56 GMT -5
I had a property. Did the declaration de renta. When I sold it ,a couple years later, the lawyer, the other party didnt ask about it. I dont think they could care less about it. I have no idea what it is used for as far as property purchases.
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Post by bickmed on May 17, 2016 7:41:32 GMT -5
An accountant came up with a possible crazy fine based on 11.3% for me of the property value which goes up each year.
If I am correct - even if you have to declare property, there are no taxes to pay as such on it unless you tap into the wealth tax limit or rent it. Is that right?
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Post by Deleted on May 17, 2016 8:01:50 GMT -5
An accountant came up with a possible crazy fine based on 11.3% for me of the property value which goes up each year. If I am correct - even if you have to declare property, there are no taxes to pay as such on it unless you tap into the wealth tax limit or rent it. Is that right? No taxes are paid if you stay under the limit. I filed for the first time last year, and did not owe any taxes. I did have taxes withheld (retencion) from the interest on Colombian CDs, though.
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Post by bickmed on May 17, 2016 8:03:59 GMT -5
Thanks Vago and all others who replied.
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Post by dandl93 on May 17, 2016 14:48:07 GMT -5
Hi there. For property above 127,000,000 pesos, one has to complete the Declaration de Renta in Colombia. Has anyone filed this after not doing it for a number of years and, if so, what (or were there) any fines involved? Yes And I paid approx 10 million cop
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Post by bickmed on May 17, 2016 15:32:07 GMT -5
Do you mind telling what happened Dandl93? Was there investigation of sorts? was the fine related to not filing for a number of years etc ? Thanks.
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Post by dandl93 on May 17, 2016 16:48:40 GMT -5
Do you mind telling what happened Dandl93? Was there investigation of sorts? was the fine related to not filing for a number of years etc ? Thanks. To make it short and sweet. My wifes accountant said I didnt need to file due to my status at the time.When I decided to due some business in Colombia, I hade made some contacts and found a good accountant.The first thing he said was where is my filings from the past years even though I didnt owe taxes I did need to file.He filed my past 5 years first before he filed any new so it would not be mixed or run together with troubles from the past. The past that was not filed even though their was no taxes owed the fines and Dian costs was 10 million cop I now check and verify anything my wife or her friends think or do when it comes to any type of business.
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Post by bickmed on May 17, 2016 17:14:40 GMT -5
Thanks; holy hell that is an expensive fine.
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Post by buenopues on May 17, 2016 18:18:24 GMT -5
So the ten million was a cumulative fine for all the years you didn't file?
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Post by dandl93 on May 17, 2016 18:23:28 GMT -5
So the ten million was a cumulative fine for all the years you didn't file? Yes it was
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Post by billyb on May 17, 2016 18:45:23 GMT -5
Hi there. For property above 127,000,000 pesos, one has to complete the Declaration de Renta in Colombia. Has anyone filed this after not doing it for a number of years and, if so, what (or were there) any fines involved? I filed for the first time last year. My accountant said that I should have filed for 2013. I had the option of filing a late declaration or just doing nothing. If DIAN decides to audit me, I may have some explaining to do. So, far (knock on wood), I have heard nothing from DIAN. DIAN has a two-year window to review your declaration. Tic toc, good luck. I think, hope, you should be ok, otherwise you would have heard from them already.
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Post by billyb on May 17, 2016 18:51:49 GMT -5
I now check and verify anything my wife or her friends think or do when it comes to any type of business. Colombians are hard wired to be physically unable to say "i don't know", whether it involves directions (that is the worse), questions about medicine, business, taxes.....you name it. If they don't know, and they won't, they will make up some reasonable sounding advice, that has no bearing with reality, on the spot, and with a straight face.
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Post by billyb on May 17, 2016 18:52:49 GMT -5
So the ten million was a cumulative fine for all the years you didn't file? Yes it was All in all, not that much.
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Post by gallito on May 17, 2016 18:55:56 GMT -5
...and posting on a forum constitutes a keen sense of knowledge and a quick ability to google.jajajaja
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pedro
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Post by pedro on May 17, 2016 20:07:39 GMT -5
An accountant came up with a possible crazy fine based on 11.3% for me of the property value which goes up each year. If I am correct - even if you have to declare property, there are no taxes to pay as such on it unless you tap into the wealth tax limit or rent it. Is that right? In Colombia, they have something called renta presuntiva (presumed income). They will assume a small return on your capital for the purposes of income, whether or not you actually earned anything from it. It's something in the order of 2% or 3% of your registered asset value. If it's real estate, for example, registered value can still be considerably less than the real market value. That said, you can show a certain amount of income on your tax return and still end up paying very little or no income tax. It all depends on the thresholds.
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Post by bickmed on May 18, 2016 13:11:51 GMT -5
''All in all, not that much''
I think the fine is a hell of a lot, assuming that it was just for not filing his renta for an owned apartment that wasn't rented, earned income etc, so he was not liable to pay any income tax etc on it.
No idea about other countries, however once I didn't file in Australia for about 5 years, and I just got a ''don't do it again letter''. 10,000,000 pesos, or over 3,000 USD is a huge fine if it was purely related to putting in a return late.
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Post by billyb on May 18, 2016 13:36:10 GMT -5
He said it was accumulative over multiple years.
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Post by livinginmedellin on May 18, 2016 13:36:39 GMT -5
Perhaps DIAN should just audit every gringo with a cedula that doesn't file taxes in Colombia. Most gringos that live here likely have sufficient income to meet the requirement to file in Colombia even if they don't owe taxes. DIAN will likely will find a number that haven't been filing taxes for several years so penalties to collect and also some with unpaid taxes due. This will also help reduce Colombia's budget shortfall.
I happen to know several gringos living here that haven't been filing taxes that should be.
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Post by gallito on May 18, 2016 13:45:10 GMT -5
You're just echoing what was said on another thread;elex alluded to it in his kicking the sleeping dog analogy
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Post by bickmed on May 20, 2016 10:57:27 GMT -5
Some more variances to thicken the plot. Two sources have now stated that if you are a foreign resident, not liable for taxes in Colombiaand your property does not generate income, you do not have to make the declaration de renta. ''''When a foreigner that isn’t a taxable resident in Colombia has assets in Colombia, but these assets don’t generate income, then this foreigner is not obliged to declare these assets.''' Source - www.medellinherald.com/ln/tax/item/201-colombia-taxes-on-expat-residents,-investors,-non-residents-legal-analysis An the second source was a question I asked to tudeclaration.com which is a website I think I got from an OzGringo post. Cordial saludo Ralph, '''Ya que usted no es nacionalizado Colombiano y no permanece en Colombia por más de 183 días, no está en la obligación de declarar renta. Deberá revisar que los giros que le realice a su esposa no superen más de COP 127,256,000 ya que en ese caso su esposa si deberá declarar renta.'''
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