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In that sense, El Tiempo assured that a government source told him that they would be thinking about collect this tax from individuals who earn from 2 million pesos, payment that would be included in the tax reform.
It would be a 2% rate, about 120,000 pesos, that Colombians with that salary would have to pay annually, according to the newspaper.
The suggestion of the experts’ commission, which also proposed to the Government to increase the reduced VAT rate —which would increase the price of products such as sanitary napkins—, includes eliminating, or in any case changing, benefits for people with high wages who today pay income tax, said the media.
The National Association of Financial Institutions (Anif), for its part, proposed, according to Caracol Radio, that individuals who earn up to 1,500,000 pesos do not pay income tax, while those who earn from 2,500,000 have a rate of 0.5%.
In addition, the station points out, Anif asks for a 12.5% rental rate for people with salaries of 10 million pesoss and for the 50 million pesos, one of 21.9%; for those who earn more than 200 million pesos, it proposes an income tax of 34%.
Who pays income tax today?
Although currently, people who have gross assets of more than 160 million pesos must declare income, those who have income of more than 49 million pesos annually, if they have annual expenses of more than 49 million, among others, few end up paying income tax.
According to Dian, currently, those taxpayers with a tax base equal to or higher than 800 million pesos must pay income tax.
Although the Government called in experts to design the tax reform, it will be the Ministry of Finance that will have the last word on the taxes that would increase.
