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 10.0 28.9 10.9
Time (hours per year) info_outline 203.0 342.6 163.4
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
Corporate income tax Online payment 33 Taxable profit ..
Social security: health contributions Online payment 8.5 Salaries ..
Social security: welfare contributions Paid jointly 12 Salaries .. Included in social security: health contributions
Social security: labor risk insurance contributions Paid jointly 0.52 Salaries .. Included in social security: health contributions
Payroll tax Paid jointly 4.5 (50% discount) Salaries ..
Value added tax (VAT) Online payment 16 Value added .. Not included
ICA tax Online payment 0.7 Value added ..
Property tax Online payment 1.55 Assessed real estate value ..
Urban boundary tax 2 Expansion works cost ..
Financial transactions tax 0.4 Withdrawals from bank account ..
Stamp duty - .. Small amount
Fuel tax 6 Consumption value ..
Vehicle tax 1.5 Commercial value of the vehicle ..
Corporate income tax 38.5% taxable profit .. includes income tax surcharge of 10%
Social security contributions 11.6% gross salaries ..
Municipal tax 0.7% turnover ..
Payroll tax 9.0% gross salaries ..
Tax on financial transactions 0.4% withdrawals from bank account ..
Equity tax 0.3% equity ..
Property tax 0.0% assessed real estate value .. tax comes prepaid
Stamp duty 0.1% contract value .. it is assumed that the payment is done with the retaining declarcion
Welfare security system 8.0% gross salaries .. included in other taxes
Labor risk insurance 0.5% gross salaries .. included in other taxes
Value added tax (VAT) 16.0% value added .. not included
Vehicle tax 1.5% vehicle value .. the payment is a function of the vehicle value and the model. The vehicle value is assessed according to the Ministry of Transport reference values
Fuel tax 6.0% consumption value ..
Social security contributions 12.00% gross salaries ..
Real estate tax (predial) 0.95% assessed real estate value ..
Stamp duty 0.00% .. small amount
Labor risk insurance paid jointly 0.52% gross salaries .. included in previous
Welfare security system paid jointly 8.00% gross salaries .. included in previous
Value added tax (VAT) 16.00% value added .. not included
ICA tax 0.70% sales ..
Corporate income tax 34.00% taxable profit ..
Payroll tax paid jointly 9.00% gross salaries ..
Financial transactions tax 0.00% withdrawals from bank account ..
Fuel tax (sobretasa a la gasolina) 18.50% consumption value ..
Vehicle tax 0.00% ..
Totals: 10.0 203.0 72.2
Taxes by type Answer
Profit tax (% of profit) 20.80
Labor tax and contributions (% of profit) 28.80
Other taxes (% of profit) 22.60