October 2026
Companies in Colombia are approaching the 2026 year-end with an open question: what will taxes look like in 2027? There are two views on the table, and neither is law yet.
What we know
- The outgoing government’s bill. On July 20, 2026, the Ministry of Finance filed a bill seeking COP 21.9 trillion in 2027. Among other measures, it proposed a permanent 15-point surcharge for financial institutions, raising the significant economic presence rate from 3% to 5%, removing the tax credit on dividends and lowering the wealth tax threshold from 72,000 to 40,000 UVT.
- The new government’s position. The administration that took office in August rejected that bill and announced its own reform. According to press reports, it would focus on reviewing tax benefits and fighting evasion rather than raising the corporate income tax rate (currently 35%), and it proposes eliminating the wealth tax.
- Fiscal pressure is real. Colombia’s independent fiscal rule committee estimates that meeting the 2027 target requires measures worth 3.7% of GDP.
What we don’t know
The final text. Any reform must go through Congress, and its content can change significantly along the way. That is why it is not wise to make big decisions based on headlines.
What you can do today
- Take stock of your tax benefits. If the reform targets benefits, knowing which ones your company uses and how much they weigh is the first step to measure the impact.
- Prepare 2027 scenarios. A budget with two or three tax scenarios lets you react quickly once the law is known.
- Plan dividends and capital calmly. If you are a subsidiary of a foreign group, review with your adviser when to declare dividends or move capital, and make sure your investment registration is up to date.
- Close 2026 properly. Reconciliations, support for deductions and transfer pricing in order. None of that depends on any reform.
How we help
At JyM Contadores we provide tax advisory to subsidiaries and branches of foreign companies: we follow the reform through Congress, model its impact and explain it to headquarters in plain terms.
Want to know how this applies to your company? Get in touch and we will tell you what is worth reviewing in your case before year-end.
Sources: INCP (July 2026); Infobae (August 17, 2026); El Colombiano (August 8, 2026). Information available at the date of publication; the legislative process may change its content.
