Income tax return in August: These are the key dates and forms for paying the tax.

This August 12th marks day zero for more than six million Colombians to file their income tax returns . According to the tax calendar established by the National Tax and Customs Directorate (DIAN), from this date until October 24th, individuals must declare their financial transactions for the 2024 tax year.

Payment of this tax is mandatory for all individuals who exceed the income, expenditure, and gross assets limits between January 1 and December 31, 2024, as described below:

As stated, the Dian establishes a tax calendar each year that stipulates how the payment of different taxes and types of taxpayers will work during the tax year.

For income tax returns, the last two digits of the NIT are taken into account , without the verification digit, so it generally coincides with the last digits of the taxpayer's ID number. If this is the case, the taxpayer must file the tax before this date to avoid penalties.

Thus, on Tuesday, August 12, individuals whose last digit of their NIT or ID number ends in 01-02 must file their return, and so on during business days, concluding on Friday, October 24, with the return of those whose document ends in 99-00.

Another important date to keep in mind is July 31, the deadline established by the DIAN for publishing exogenous information, which will allow taxpayers to learn about operations or transactions reported by third parties during the 2024 tax year.

Those who are required to file an income tax return and do not file this tax within the dates established by the Dian will be sanctioned, as stipulated in article 651 of the Tax Statute, which stipulates that the taxpayer may be fined up to 20% of the value of the tax declared or that should have been declared, and if there is no tax due or the declaration is zero pesos, the fine will be 1 UVT, approximately 47,000 pesos in 2025.

ALEJANDRA HERNÁNDEZ TORRES

DIGITAL REACH EDITORIAL