Colombia has published Decree 359 of 5 March 2020, which regulates certain aspects of individual income tax, including a new withholding table for employment income. The monthly brackets/rates are based on the tax value unit (UVT) as follows:
- up to UVT 95 - 0%
- over UVT 95 up to 150 - 19%
- over UVT 150 up to 360 - 28%
- over UVT 360 up to 640 - 33%
- over UVT 640 up to 945 - 35%
- over UVT 945 up to 2300 - 37%
- over UVT 2300 - 39%
The Decree is effective from 5 March 2020.
Note - The tax value un…