Annual declaration of assets held abroad
Similar to reporting requirements in the U.S. such as FBAR or Form 8939, expats with residency in Colombia are required to report foreign-held assets over a certain threshold on DIAN Formato 160. This is not a tax but is simply a reporting requirement, and our team has the experience required, assisting hundreds of ex-pats to fulfill this obligation.
Form 160: The Annual Declaration of Assets Abroad is established for taxpayers who have assets with a combined value of over 3,580 UVT, or 136,054,320 COP in 2022.
The taxable year must be declared according to the nature and type of all assets held as of January 1 of that year. Some assets whose value must be included are:
This reporting requirement is submitted as apart of our client’s annual tax declaration. Make an appointment today by emailing paula@usatax.co where you can learn more about your unique tax situation and if DIAN Formato 160 will apply to you.