At LARM Colombia we know that behind the arrival in a new country there are many issues to be resolved, from housing, the adaptation of the family to the new city, the search for schools for the children and others. And many times the subject of taxes is last on the to-do list. That is why this time we bring you important information about how vehicle taxes work in Colombia.
When the vehicle is purchased new at a dealership, it must be registered, purchased the SOAT (Compulsory Insurance) and pay the taxes for the year, generally the dealer helps in the processing of these documents, however, it is good to know how the process works; as for the SOAT, it is generated for one year and must always be in force to avoid fines, the SOAT only covers the medical expenses of the people involved in a traffic accident, so you can also take put additional insurance, which covers damage to the vehicle, after conducting an investigation and determining the fault of the accident, the value of both, the SOAT and the comprehensive insurance depends on the type of vehicle purchased.
Regarding the registration of the vehicle, it is done in the offices of the SIM (Comprehensive Mobility Services), the requirements for each procedure must be reviewed in advance on the website, taking into account that there can also be made the transfer of the vehicle to another owner and process the driver´s license.
Now, for vehicle taxes, it is important to take into account that they are paid during the current year, this means, when a vehicle is purchased, the taxes referring to the months remaining to the end of the year are collected, for the following year pays the entire year, and must be paid according to what is stipulated in the tax calendar, the months in which it must be paid is from April to August.
When the vehicle is purchased, the residence address must be entered correctly, this in order for the District Secretary of Finance to send the receipt of the taxes to be paid, this receipt arrives between March and April and has different dates, in which if you pay in advance they provide several discounts, while if you pay on the deadline you must pay the full rate.
Another means to pay taxes is through the website of the District Secretary of Finance, the characteristics of the vehicle are entered into the platform as they appear on the property card so that the settlement is generated properly, you can pay in online or in person at the bank.
However, if for any reason you prefer to carry out the procedure in person in Bogotá, it can be done through a Supercade and there they will generate the settlement of taxes to make the payment at the bank.
Another important legal requirement is the mechanical technical review or also known as gas certification, when the vehicle is new it is not necessary to carry out the review during the first 5 years, from the sixth year it is mandatory to perform it in authorized centers annually.
In case of not paying the vehicle taxes on time, a fine is generated, which as soon as the current year ends will begin to charge interest and if the vehicle is discovered moving it could be immobilized, in the same way it happens when it is not paid on time the SOAT and the mechanical technical review, generates fines and possible immobilization of the vehicle. Therefore, to avoid fines, you must pay everything on time and always have the property card in the vehicle, the SOAT and the mechanical technical review can be seen in the system by the traffic police but it is advisable to carry a printed copy in the vehicle.
Finally, we recommend saving receipts for taxes paid because these are necessary when selling the vehicle, the receipts for the last 5 years must be presented so that the transfer can be made.
The previous procedures can be carried out with the immigration card (cédula de extranjería); with a passport it is unlikely to buy a vehicle.
At LARM Colombia we have a professional and expert team that is ready to guide and advise you with taxes in Colombia. If you require more information, you can contact us here.
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