Attention entrepreneurs: since when will you pay less taxes in Colombia?

On January 1 of this year, Decree 045 of 2024 came into force in Colombia, whose objective is to reduce the fees that businessmen must pay to register with Chambers of Commerce. It is expected that approximately 90% of the country’s companies will benefit through this measure, particularly micro and small ones.

The key changes introduced are:

1. Reduced Rates: The decree modifies the costs associated with the registration and renewal of business licenses, as well as the registration of establishments, branches and agencies.

2. Support for Chambers of Commerce: To mitigate the financial impact that the reduction in fees has on chambers of commerce, the Ministry of Commerce, Industry and Tourism has introduced provisions allowing the association of chambers.

“This article will allow the Chambers of Commerce with the greatest contribution to the financing of the programs provided by the Ministry of Commerce, Industry and Tourism, to associate with those that make the smallest contributions to the programs provided by the entity”indicated from the Ministry of Commerce, Industry and Tourism.

This will allow chambers with greater financial resources to support those with fewer resources, helping them manage fixed costs, such as rent and administrative expenses.

(READ MORE: How do I know if I am a beneficiary of any subsidy from the Government of Colombia?)

3. A clear goal:
The general objective is to create a more competitive rate structure for small businesses, thus promoting the growth and consolidation of Colombia’s business ecosystem.
Fees for these procedures have also been decreased, which represents significant financial relief for small business owners.

This reduction already includes “the value of the fees for registration and renewal of commercial registration and the fees for registration of registration or renewal of establishments, branches and agencies”they maintain from the National Portfolio.

(READ MORE: How to check with the ID if I apply for a subsidy in Colombia?)