Petro's Government Increases the Collection of Withholding Tax From the Extractive Industry to Address Its Liquidity Problems

Since this Thursday, May 29, most Colombian companies must provide a higher percentage of the money that is retained (through the figure of withholding at the source) and that works as a kind of advance payment of income tax. This is determined by Decree 0572 of 2025, issued on Wednesday by the Ministry of Finance and that authorizes the national government to advance the collection of withholding at the source corresponding to 2026, and to tran…

The president of Colombia, Gustavo Petro, is again committing what he himself described as “error” in 2024, but now, in addition, he is leaving companies and the next ruler of the Andean country in great financial difficulty. SEE MORE: What does decree 0572 of 2025 say and what changes will bring in the retention at the sourceGermán Ávila, Minister of Finance, issued decree 0572 in which self-retention rates are defined for 2025. Just eight mont…

Government anticipates retention in the source from 2026 to 2025 to face fiscal deficit Period Agency... Thu, 29/05/2025 - 07:22 The Ministry of Finance issued a decree that modifies self-retention rates and advances their collection, which seeks to raise about $7.3 billion in the remainder of the year. Tags { "@context": "https://schema.org", "@type": "DataFeed", "name": "", "description": "", "creator": { "@type": "Organization", "name": "Rese…

Bruce Mac Master, president of the ANDI. Image: Valora Analitik. President Petro’s government issued regulations to anticipate Colombia’s collection of 2026, a measure that would be applied, the document says, to maintain a financial solidity of the state, while guaranteeing resources for official projects. The document reads that the decision applies to the retention of “other tax revenues” will range from 1.20% to a maximum of 4.5%.” Photo: Co…

The Ministry of Finance issued a decree that obliges companies to advance, in 2025, the payment of self-retention in the source corresponding to the taxable year income tax of 2026. The measure seeks to strengthen this year’s tax collection, although it will have implications for the finances of 2026. The decision will impact the ... The post government anticipates 2026 income: companies will have to pay more self-retention this year appeared fi…