Individual - Foreign tax relief and tax treaties

Last reviewed - 03 March 2023

Foreign tax relief

Fiscal residents subject to taxes in Colombia on a worldwide income basis have the right to include a tax credit in their Colombian income tax return. The cap of the tax credit is the income tax applicable to the same income in Colombia and can be credited in the year of payment or in any of the following four years.

Tax treaties

Colombia has double tax treaties (DTTs) with the following countries:

  • Bolivia
  • Canada
  • Chile
  • Czech Republic
  • Ecuador
  • France (in force as of 2022)
  • India
  • Italy
  • Mexico
  • Peru
  • Portugal
  • South Korea
  • Spain
  • Switzerland
  • United Kingdom
  • Japan (in force since 2023)