Colombia

Ease of Doing Business in

Riohacha - Colombia

This page summarizes Doing Business data for Riohacha. The first table shows its rank among 21 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 46,927,125
GNI Per Capita (US$) 6,110.00
Ease of Doing Business Rank among 21 cities in Colombia Top city in Colombia
13 Manizales
Topic Rankings Rank among 21 cities in Colombia Top city in Colombia
Starting a Business 17 Armenia
Dealing with Construction Permits 6 Popayán
Registering Property 8 Ibagué
Paying Taxes 17 Sincelejo
Enforcing Contracts 19 Manizales

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 Riohacha 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)
26 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)
208 367 176

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

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Profit tax (%)
24.3 21.5 15.2

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 (%)
33.9 14.4 23.8

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 (%)
13.2 11.3 3.7

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)
71.4 47.2 42.7
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 contributions 1 102 12.00% gross salaries 23.7
Corporate income tax 2 40 34.00% taxable profit 17.7
ICA tax 12 0.60% sales 10.6
Payroll tax 0 paid jointly 9.00% gross salaries 10.2
Financial transactions tax 1 0.00% withdrawals from bank account 6.6
Real estate tax (predial) 1 1.20% assessed real estate value 1.8
Fuel tax (sobretasa a la gasolina) 1 18.50% consumption value 0.6
Vehicle tax 1 0.00% 0.2
Stamp duty 1 0.00% .. small amount
Labor risk insurance 0 paid jointly 0.52% gross salaries .. included in previous
Welfare security system 0 paid jointly 8.00% gross salaries .. included in previous
Value added tax (VAT) 6 66 16.00% value added .. not included
Totals: 26 208 71.4

Subnational Data


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