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Newsletter: Changes to the Stamp Tax (Impuesto de Timbre)

To address the severe disruption of public order in Catatumbo, the National Government temporarily established the reactivation of the Stamp Tax with a tariff of 1%. This tax could affect all types of operations carried out in both the public and private sectors, making it important to understand its characteristics and the obligations it imposes on taxpayers.

The Stamp Tax Prior to the Change

The Stamp Tax is one of the oldest taxes in the Colombian legal system, originating from the citizens’ obligation to perform certain actions using sealed paper. However, as a result of legislative decisions in 2006, this transactional tax was partially dismantled, causing the tariff charged for acts with a determined value (cuantía) to progressively reduce until it reached a 0% rate in 2010.

Other acts, such as the issuance of passports abroad, remained subject to the Stamp Tax until 2021, when the tax was eliminated for acts carried out by Colombians abroad before diplomatic and consular officials. On the other hand, the Stamp Tax has remained in effect for some actions such as the issuance of passports in Colombia and visas for foreigners. The most relevant change to the Stamp Tax in recent years was the change resulting from the 2022 tax reform, which included the collection of this tax on acts involving the alienation (enajenación) of real estate valued at more than 20,000 UVT (approximately COP $996 million for 2025).

The Change Effective from February 22nd

Starting Saturday, February 22, 2025, one of the decrees issued within the framework of the state of internal commotion (conmoción interior) took effect, re-establishing the tariff at 1% for acts with a determined value, clarifying additionally that real estate would only be subject to the tax according to the rule established in 2022; that is, this new rule did not imply a change in the Stamp Tax for the alienation of real estate.

In What Cases Must It Be Paid?

This tax must be paid whenever public deeds or private documents are granted or accepted in the country that establish the constitution, existence, modification, or extinction of obligations, provided that the value of these is greater than 6,000 UVT (approximately $298,794,000 for 2025). This applies only if a public entity, a legal entity (persona jurídica) or equivalent, or a natural person who is a merchant (comerciante) with gross income or gross assets greater than 30,000 UVT in the previous year (approximately COP $1,493,970,000 for 2025) intervenes as grantor, acceptor, or subscriber in these documents.

This tax must also be paid for documents granted outside the country but that are executed or generate obligations within the national territory. For example, this tax would apply to service contracts, supply contracts, leases, and the purchase and sale of goods.

The Case of Real Estate:

For real estate, the rule existing since December 2022 remains in place; that is, only real estate alienated for values greater than 20,000 UVT is subject to the Stamp Tax with tariffs between 1.5% and 3%, concurrently with the Registration Tax. For other acts concerning real estate, including the alienation of real estate for values below 20,000 UVT, only the Registration Tax is due.

Documents that contain obligations greater than 6,000 UVT concerning real estate that are not subject to the Registration Tax do incur the Stamp Tax. However, the promise of purchase and sale of real estate is a specific exemption.

Exemptions:

In addition to the promise of purchase and sale of real estate, some documents are exempt from the tax. Some of the exempt documents are:

• Shares subscribed in the articles of incorporation of corporations (sociedades anónimas) or limited partnerships by shares.

• Certificates of deposit or term certificates issued by credit institutions.

• Pledge or open mortgage guarantee agreements (contratos de garantía mobiliaria o hipotecaria abierta).

• Air, sea, and river transport contracts for passengers and cargo.

• Insurance and reinsurance policies, their renewals, and extensions.

• Employment contracts.

• Private documents through which the export of domestically produced goods and services is agreed upon.

Also exempt from the tax are purchase or sale orders for goods or services and mercantile offers accepted upon the issuance of the purchase or sale order. Regarding the latter, we highlight that mercantile offers accepted by means other than a purchase or sale order are subject to the Stamp Tax.

When Must It Be Paid?

As a general rule, the tax is incurred upon the granting of the document, at which time it must be collected by the withholding agent and should be paid by the agent to the administration when submitting their Withholding Tax declaration (declaración de retención en la fuente).

Who Are Withholding Agents?

Withholding agents are natural persons, legal entities, or equivalents who are taxpayers of the tax, as well as notaries for documents formalized as public deeds, public entities, and diplomatic agents for documents granted abroad.

What Obligations Do Withholding Agents Have?

Stamp Tax withholding agents must:

1. Withhold the Stamp Tax on public or private documents in which they are involved and ensure that the withheld amounts are declared and paid in the places and within the deadlines established by the government.

2. Be obligated to file a monthly declaration of the withholdings that should have been made during the respective month.

3. Issue a Stamp Tax withholding certificate to each taxpayer. This certificate must (i) include details about the taxed document or act, (ii) the data of the parties involved, and (iii) the value paid, including taxes, penalties, and interest, if applicable. The certificate must be issued and delivered to the taxpayer for each tax accrual and payment, according to the format prescribed by the Special Administrative Unit, Directorate of National Taxes and Customs (DIAN).

Who Must Pay It?

The taxpayers of this tax must pay it; that is, those who intervene as grantors, acceptors, or subscribers of these documents.

How Much Must Be Paid?

The general tariff for acts with a determined value is 1%.

For successive execution contracts (contratos de ejecución sucesiva), the value is the total of the periodic payments that will be made under the contract; if the duration is indefinite, the value will be equivalent to one year’s payments.

In the case of documents containing obligations with undetermined values, the tax is paid through the withholding mechanism for each of the payments or account credits derived from the document. The costs or expenses corresponding to obligations contained in these contracts will not be deductible from Income Tax without proof of the Stamp Tax payment.

What is the Term of the Tax?

The tax must be paid for documents granted or accepted between February 22, 2025, and December 31, 2025.