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Ease of Doing Business in

Medellín - Colombia

Region Latin America & Caribbean
Income Category Upper middle income
Population 48,228,704
GNI Per Capita (US$) 7,130.00

This page summarizes Subnational Doing Business in Colombia 2013 data for Medellín. The first table shows its rank among 23 cities/regions in Colombia. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Topic Rankings Rank among 23 cities in Colombia Top city in Colombia
Overall 11 Manizales
Starting a Business 11 Armenia
Dealing with Construction Permits 17 Pereira
Registering Property 8 Ibagué
Paying Taxes 10 Ibagué
Indicator Medellín Latin America & Caribbean OECD
Payments (number per year) info_outline 10 28.9 10.9
Time (hours per year) info_outline 203 342.6 163.4
Total tax rate (% of profit) info_outline 72.2 46.3 40.9
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% of profit) Notes on TTR
Social security: health contributions 1 Online payment 87 8.5 Salaries 23.71
Corporate income tax 1 Online payment 50 33 Taxable profit 20.76
ICA tax 1 Online payment 0.7 Value added 12.37
Financial transactions tax 1 0.4 Withdrawals from bank account 6.55
Payroll tax 0 Paid jointly 4.5 (50% discount) Salaries 5.08
Property tax 1 Online payment 1.55 Assessed real estate value 2.30
Urban boundary tax 1 2 Expansion works cost 1.03
Fuel tax 1 6 Consumption value 0.20
Vehicle tax 1 1.5 Commercial value of the vehicle 0.16
Stamp duty 1 - 0.00 Small amount
Value added tax (VAT) 1 Online payment 66 16 Value added 0.00 Not included
Social security: welfare contributions 0 Paid jointly 12 Salaries 0.00 Included in social security: health contributions
Social security: labor risk insurance contributions 0 Paid jointly 0.52 Salaries 0.00 Included in social security: health contributions
Totals: 10 203 72.2
  • Taxes by type Answer
    Profit tax (% of profit) 20.8
    Labor tax and contributions (% of profit) 28.8
    Other taxes (% of profit) 22.6