Colombia

Ease of Doing Business in

Medellín - Colombia

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.

Economy Overview

Region Latin America & Caribbean
Income Category Upper middle income
Population 47,704,427
GNI Per Capita (US$) 6,990.00
Ease of Doing Business Rank among 23 cities in Colombia Top city in Colombia
11 Manizales
Topic Rankings Rank among 23 cities in Colombia Top city in Colombia
Starting a Business 11 Armenia
Dealing with Construction Permits 17 Pereira
Registering Property 8 Manizales, Ibagué
Paying Taxes 10 Ibagué

Subnational Data


Paying Taxes

Info

This data shows the tax that a medium-size company must pay or withhold in a given year, as well as measures of the administrative burden in paying taxes. These measures include the number of payments an entrepreneur must make; the number of hours spent preparing, filing, and paying; and the percentage of their profits they must pay in taxes.

Indicator Medellín Latin America & Caribbean OECD

The total number of tax payments per year. The indicator reflects the total number of taxes and contributions paid, the method of payment, the frequency of payment and the number of agencies involved for a standardized case during the second year of operation.

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Payments (number per year)
10 30 12

The time it takes to prepare, file and pay (or withhold) the corporate income tax, the value added tax and social security contributions (in hours per year).

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Time (hours per year)
203 369 175

The amount of taxes on profits paid by the business as a percentage of commercial profits.

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Profit tax (%)
20.8 20.5 16.1

The amount of taxes and mandatory contributions on labor paid by the business as a percentage of commercial profits.

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Labor tax and contributions (%)
28.8 14.7 23.1

The amount of taxes and mandatory contributions paid by the business as a percentage of commercial profit that are not already included in the categories of profit or labor taxes.

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Other taxes (%)
22.6 12.1 2.0

The total tax rate measures the amount of taxes and mandatory contributions payable by the business in the second year of operation, expressed as a share of commercial profits.

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Total tax rate (% profit)
72.2 47.3 41.3
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Social security: health contributions 1 Online payment 87 8.5 Salaries 23.7
Corporate income tax 1 Online payment 50 33 Taxable profit 20.8
ICA tax 1 Online payment 0.7 Value added 12.4
Financial transactions tax 1 0.4 Withdrawals from bank account 6.5
Payroll tax 0 Paid jointly 4.5 (50% discount) Salaries 5.1
Property tax 1 Online payment 1.55 Assessed real estate value 2.3
Urban boundary tax 1 2 Expansion works cost 1.0
Fuel tax 1 6 Consumption value 0.2
Vehicle tax 1 1.5 Commercial value of the vehicle 0.2
Stamp duty 1 - 0 Small amount
Value added tax (VAT) 1 Online payment 66 16 Value added 0 Not included
Social security: welfare contributions 0 Paid jointly 12 Salaries 0 Included in social security: health contributions
Social security: labor risk insurance contributions 0 Paid jointly 0.52 Salaries 0 Included in social security: health contributions
Totals: 10 203 72.2

Subnational Data


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