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The taxman follows you everywhere

Hey everyone, I was looking into living in Colombia for awhile and came across something that said foreigners had to pay income tax of around 35%. Is this true? Is the tax system for residents progressive like here in the states or do they pay a flat rate also. I know a lot of people, residents & foreign, work off the books and obviously don't report for taxes. Do a lot of companies offer an 'under the table wage' to avoid paying taxes? Any thoughts? Thanks.

joe.

By jh816 on Sep 13, 2005, 19:14 in Friendly Talkzone. AddThis Social Bookmark Button


Hunter says on Sep 14, 2005, 07:20:

jh816 You will need to tell us if you plan on working/investing in Colombia or not, if not there is no direct tax obligations here if you generate no income here.

Hunter

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ColombiaBoard says on Sep 14, 2005, 08:41:

Income Tax If I´m not wrong it´s based on your yearly income, there are "income brackets".

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haji says on Sep 14, 2005, 12:38:

write me We get 35 percent tax advantage for our buisness because of where we set up at present we are small only 27 employees and 24 locations there are ways to do things but cannot be discussed here lol
chris

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jh816 says on Sep 15, 2005, 14:44:

work but probably not invest I've got quite a bit in American equities to support a nice living while in Colombia, but I plan on working (but not too hard) while I'm down there. I've got two undergrad degrees and an M.B.A. but no teaching experience (I figured a job teaching english would probably be easiest to find). If I can find work teaching "under the table" then taxes won't be a problem. Just kind of shocked when I saw the high tax rate on foreigner income.

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2retirensa says on Sep 15, 2005, 16:23:

Colombian Taxation Info Here is a link to taxes (and more) in Colombia

http://www.coinvertir.org/html/i_portals/index.php

look on the left for "taxes"; it gives tax rates for income, investments etc.
Maureen

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