Income Tax Withholding for Independent Workers

Tax attorney Nicolás Carrero published an article for Lexir outlining the updates on withholding tax for independent workers in Colombia as per Decree 2231 of 2023. He explained these workers now have the choice between two withholding regimes, which directly impacts their ability to deduct expenses and affects their taxable income. Mr. Carrero emphasized the importance of explicitly communicating these choices, adapting to legislative updates and maximizing tax benefits.

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