Countries › Colombia › Guide › 6. Taxes › Capital gains in Colombia: 15 percent occasional gains tax, sales by foreign investors and indirect transfers

Capital gains in Colombia: 15 percent occasional gains tax, sales by foreign investors and indirect transfers

Argentina. For full detail on Argentina, go to The Argentine Thread.

Last verified: 2026-10-26 · Status: Stable

Gains on assets held as fixed assets for two years or more are taxed at 15 percent, while shorter holdings are ordinary income at 35 percent. A foreign investor selling a Colombian investment must file a special return and pay within one month, and the new owner cannot be registered until the tax is paid. Selling a foreign company that holds Colombian assets is taxed as a direct sale unless the Colombian assets are under 20 percent of its assets or the shares are widely held and listed.

USD figures use the TRM of COP 3,158.43 per US dollar, valid 24 to 26 October 2026, from the official TRM series certified by the Superintendencia Financiera and published on datos.gov.co. UVT amounts use the 2026 UVT of COP 52,374 (DIAN Resolución 000238 de 2025). Conversions are for orientation only.

Key facts

Occasional gains tax for companies (assets held two years or more)	15 %Estatuto Tributario art. 313 (Ley 2277 de 2022 art. 32), as of 2026-10-26 · in force
Holding period for occasional gain treatment	2 yearsEstatuto Tributario art. 300, as of 2026-10-26 · in force
Rate on gains on fixed assets held less than two years (ordinary income)	35 %Estatuto Tributario art. 300 and art. 240, as of 2026-10-26 · in force
Deadline for the special return on sale of a foreign investment or indirect transfer	1 monthDecreto 1625 de 2016 art. 1.6.1.13.2.19, as of 2026-10-26 · in force
Colombian assets share of foreign entity assets below which indirect transfer rule does not apply	20 %Estatuto Tributario art. 90-3 par. 2, as of 2026-10-26 · in force
Annual share of outstanding listed shares a beneficial owner may sell with gains not taxed	3 %Estatuto Tributario art. 36-1, as of 2026-10-26 · in force
UVT for 2026	52374 COPDIAN Resolución 000238 de 2025, as of 2026-10-26 · in force
TRM used for USD conversions (valid 24 to 26 October 2026)	3158.43 COP per USDOfficial TRM series, Superintendencia Financiera de Colombia, as of 2026-10-24 · in force

The rule

1. Gains on the sale of assets of any kind that were fixed assets of the seller for two years or more are occasional gains, measured as sale price minus tax cost. Gains on fixed assets held for less than two years are ordinary income, and assets sold in the ordinary course of business are not fixed assets.Estatuto Tributario (Decreto 624 de 1989), art. 300 and par. 2 added by Ley 1819 de 2016 art. 124, Art. 300, first and second paragraphs, par. 2, 2016-12-29 official text · verified 2026-10-26

2. Companies and other entities, Colombian or foreign, pay a single 15 percent rate on occasional gains.
Example: Shares in a Colombian SAS held five years, sold for COP 3,000,000,000 with a tax cost of COP 1,000,000,000: gain COP 2,000,000,000, tax COP 300,000,000. Held 18 months, the same gain is ordinary income taxed at 35 percent: COP 700,000,000. / About US$633,226 of gain: about US$94,984 at 15 percent or US$221,629 at 35 percent.Estatuto Tributario, as amended by Ley 2277 de 2022 art. 32, Art. 313, 2022-12-13 official text · verified 2026-10-26

3. A foreign investor that sells its investment in Colombia must file, within one month of the transaction, a special income tax return for change of ownership of foreign investment and indirect transfers, with payment of the tax, which may be done through an attorney, agent or representative in Colombia. The change of holder of a foreign investment cannot be registered unless the tax has been paid or guaranteed.
Cost to do it: No government filing fee; local tax adviser and representative fees are market priced.Decreto 1625 de 2016 art. 1.6.1.13.2.19 as amended by Decreto 2487 de 2022 art. 1; Estatuto Tributario art. 326 and par. added by Ley 788 de 2002 art. 90, Decreto 1625 art. 1.6.1.13.2.19; Estatuto Tributario art. 326, 2022-12-16 official text · verified 2026-10-26

4. An indirect sale of shares, rights or assets located in Colombia, through the sale of shares or interests in a foreign entity, is taxed in Colombia as if the underlying asset had been sold directly, at its commercial value and with the holder's tax cost; the holding period is that of the shareholder in the entity holding the Colombian assets. It does not apply to shares listed on a recognised exchange with an active secondary market and not more than 20 percent held by one beneficial owner, or where Colombian assets are less than 20 percent of both book value and commercial value of the foreign entity's total assets. A Colombian resident buyer must withhold; the seller files the return within one month of the sale, and the Colombian subsidiary is jointly liable if the seller does not pay.Estatuto Tributario, as amended by Ley 2010 de 2019 art. 62, Art. 90-3, first to fourth paragraphs, par. 1 to 5, 2019-12-27 official text · verified 2026-10-26

5. Gains on the sale of shares listed on a Colombian stock exchange are not taxable if one beneficial owner sells no more than 3 percent of the company's outstanding shares in a year. Non resident shareholders with registered investments are taxed on such gains, computed theoretically under the art. 49 formula, at the dividend rate for non residents in force at the time.Estatuto Tributario, art. 36-1, second paragraph as amended by Ley 2277 de 2022 art. 16; third paragraph added by Ley 223 de 1995 art. 67, Art. 36-1, second and third paragraphs, 2022-12-13 official text · verified 2026-10-26

6. Contributions in cash or in kind to Colombian companies in exchange for new shares are tax neutral: the company takes the contributor's tax cost and holding character, and the contributor's shares take the tax cost of the assets contributed, provided both parties expressly elect the regime in the contribution document.Estatuto Tributario, added by Ley 1607 de 2012 art. 98, Art. 319, num. 1 to 5, 2012-12-26 official text · verified 2026-10-26

7. For a Colombian holding company under the CHC regime, gains on selling its holdings in non resident entities are exempt occasional gains, and gains on selling shares in the CHC are exempt except for the part attributable to profits from activities in Colombia; for non resident shareholders the part attributable to foreign assets is foreign source income.Estatuto Tributario, as amended by Ley 2010 de 2019 art. 77, Art. 896, 2019-12-27 official text · verified 2026-10-26

Step	COP	Approx. USD
Sale price	3,158,430,000	US$1,000,000
Tax cost of the shares	1,263,372,000	US$400,000
Occasional gain	1,895,058,000	US$600,000
Tax at 15 percent, return within one month	284,258,700	US$90,000
Same gain if held under two years, at 35 percent	663,270,300	US$210,000

Foreign parent selling 100 percent of a Colombian SAS after five years, price COP 3,158,430,000 (US$1,000,000), tax cost COP 1,263,372,000 (US$400,000)

Worked example

A US group sells its Cayman holding company whose only asset is a Colombian SAS: under art. 90-3 the sale is taxed in Colombia as a sale of the SAS shares, the seller must file within one month, and the Colombian SAS is jointly liable if the tax is not paid.

Step by step

Confirm the holding period (two years or more for the 15 percent rate) and the tax cost of the shares, including tax neutral contributions under art. 319.
Agree in the share purchase agreement who files and pays the Colombian tax and who handles the change of holder registration with the central bank.
File the special return and pay within one month of the sale (Decreto 1625 de 2016 art. 1.6.1.13.2.19), through a representative in Colombia if needed.
Register the change of holder of the foreign investment only after the tax is paid or guaranteed (art. 326; see exiting/exiting-colombia).
For indirect sales, test the 20 percent thresholds and the listed share exception before signing (art. 90-3).

Common traps

Selling within two years turns the gain into ordinary income at 35 percent instead of 15 percent (art. 300).
Selling a foreign holding company can be taxed in Colombia as a direct sale (art. 90-3), and the Colombian subsidiary is jointly liable.
The registration of the new foreign investor is blocked until the seller's tax is paid or guaranteed (art. 326).
The one month filing deadline runs from the transaction, not from the end of the tax year (Decreto 1625 art. 1.6.1.13.2.19).

Sources

Related: Colombia country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

← Colombia's tax treaties: 13 bilateral conventions in force, Andean Decision 578 and the treaty rates on dividends, interest and royaltiesDigital services in Colombia: significant economic presence income tax and VAT on services from abroad →