PBH / colombia (travelguide, pictures) / post

DIAN told me you can recieve up to 80million COP with out declaring it

The title says it all (almost) and I'm not sure how true it is only because it is the first time I have heard about it. He told me that if I wanted to buy property with a value of less than 80 million, then I could have the money sent from the US without declaring it and hence no taxes. He also said that if the property is 120 million then it could still be done by putting half in my name (60million) and half in my wife's name (60 million).
Now I know if I go again today and ask someone else, then I'll probably get a different answer, anyone hear of this?

By bufalo on Mar 5, 2007, 04:54 in Friendly Talkzone.

tomtom33 says on Mar 5, 2007, 05:05:

I'll take a stab. The declaration is primarily for purposes of taking the money back out of Colombia in the future without tax. There is no tax other than the conversion fee. The conversion fee is paid whether or not you declare the transaction.

The 80 million has to do with whether or not you have to file a tax return. Less than 80 million, you do not have to file. However, more than 80 million does not result in a tax. You need to get much higher to trigger a tax.

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aztec says on Mar 5, 2007, 06:55:

Agree with tomtom. Be advised that you had better pay attention if you are ever planning to move the funds out of Colombia. Complete the appropriate forms in the required time alloted.

My wife and I are today, after FedExing additional supporting data, communicating via phone from the States to Colombian governmental officials concerning funds transferred two years ago. Even though we filed correct forms in the appropriate time frames they are still hassling us for additional information.

It is tempting to just tell them to f--- off but that might make my wifes visits back to Colombia difficult. It is conceivable to me that the hassle factor can become so great that I will no longer have a desire to ever revisit Colombia. They don't need this kind of notoriety.

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