Expat taxes in Colombia

Hi everyone, I just became a Colombian tax resident  :| and as you might know, I have a lot of unanswered questions.

I'm an US citizen and qualify for the Foreign Earned Income Exclusion (I will be more than 340 days in Colombia this tax year).

What is the income used to file taxes in Colombia (earned in the US)? The full amount received or the adjusted gross income? (full amount minus the exclusion)

Also, can the amount paid for Social Security and Medicare be used as a credit in the Colombian tax return?

(I have been talking to several accountants and tax lawyers in Colombia and they all have different views on this topics)

Thanks!

davidharry wrote:

I have been talking to several accountants and tax lawyers in Colombia and they all have different views on (these) topics.


Different views from different tax pros is the norm in Colombia.

The beauty is that you can theoretically choose to employ the pro whose tax opinion would benefit you the most.

I say theoretically because you will have to 'guesstimate' whether the tax opinion would hold up in any subsequent challenge by La DIAN, the taxing authority.  In other words, you have to have confidence that your tax pro knows the tax law as well as possible .. and would offer to represent you before La DIAN if that ever became necessary.

Not that the boys and girls at La DIAN are necessarily up to the task of challenging a well-prepared tax return. 

It's a game .. and I personally support the concept of gaming the system .. within the law.

cccmedia

That's the key: finding the right tax pro that will give me peace of mind to get a good night sleep.

I was kind of hoping to hear from someone who knows someone that has done this before

Follow CCCs advice..find 5 difierent accountants ..all of who are idiots and dont have a clue..and give different answers.

And then just admit you made a mistake and its just better to stay in Colombia less than 183 days a year..

That is the best adbice any newbie will get on any internet forum