Overview of Colombia Salary Calculator
Colombia has a progressive income tax system with rates ranging from 0% to 39%.
Effortlessly calculate your income taxes and relevant social security contributions using our Colombia salary calculator.
Calculate Your Colombia Salary After Taxes
To use the Colombia income tax calculator, simply input your gross income and income type to begin.
Notice: This calculator currently computes Personal Income Tax (PIT). Integration of Social Security contributions is in progress and will be available soon.
Convert Your Salary To COP
TaxAssist+ from The Next Gen Business is a tax calculation tool, tailored to use each country’s local currency for precision and simplicity.
To fully utilize this feature, please convert your native currency into COP, ensuring accurate and efficient tax computations.
📌 What Is the Average Salary in Colombia?
Colombia, where the average monthly salary is $311.13, features a mixed economy with key sectors like oil and agriculture, focusing on economic reforms and infrastructure development.
Colombia’s strategic location and efforts to improve security and infrastructure present opportunities for growth in sectors like technology and tourism.
📌 What Is the Minimum Wage in Colombia?
Colombia’s minimum wage of Col$1,300,000 (US$350) per month, plus a transportation subsidy, aims to provide a basic standard of living amidst the country’s mixed economy. This wage level reflects Colombia’s focus on economic reforms and infrastructure development to enhance job opportunities. The Colombian minimum wage system is an integral part of the nation’s efforts to balance economic growth with social welfare.
📌 What Are The Types of Taxes in Colombia?
Colombia has a progressive income tax system with rates from 0% to 39%.
Corporations are taxed at a 35% rate.
VAT is set at 19%, with reduced rates for some goods.
➤ View References
Trading Economics: tradingeconomics.com/country-list/social-security-rate
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