INCOME TAX DECLARATION ON NATURAL PERSONS
The period for the declaration of income taxes on natural persons has already begun, corresponding to the taxable year 2020. The Directorate of National Taxes and Customs (Dian) did not modify any of the previous procedures on the declaration of income taxes on natural persons.
Next, we will explain all the steps to comply with in the declaration of income taxes in natural persons.
Requirements for the declaration of income taxes in Natural Persons
- A copy of the updated RUT.
- Documentation with all income recorded in taxable year 2020 (certificates of income and withholdings for labor payments, certificates of compensation, income from fees, certificates of financial performance, dividends, food payments, etc.).
- Documents that certify the ownership of goods, assets, rights and investments until December 31, 2020.
- Documents that certify the payments made in 2020 that have an impact on tax activity or that generate tax benefits.
All these documents have their respective formats, forms and must be duly certified to be recognized as valid by DIAN.
Who Must File Income Taxes?
The Ministry of Finance issued Decree 2345, which details who must declare income tax this year on the taxable year 2019. This decree clarifies that they are not required to declare those who did not exceed 4,500 UVT (Units of Tax Value) of gross equity or that their total income for the year 2019 did not exceed 1,400 UVT.
Decree 2345 indicates that the declaration of income taxes in natural persons applies to those who had, in 2019, a gross equity equal to or greater than $ 154,215,000, or who also have registered total income, consumption in credit cards , purchases and equal consumption and bank consignments for amounts equal to or greater than $ 47,978,000 each.
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