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Calculation of IMAN and IMAS beginning in 2016

The Constitutional Court, by means of the judgment C-492 of August, 2015, has confirmed the constitutionality of the National Alternative Minimum Tax (“IMAN” due to its acronym in Spanish) and Alternative Simplified Mínimum Tax (IMAS) for employees, provided that the base over which those taxes are calculated (Alternative Taxable Base) is partially exempted or may be reduced in an equivalent to 25% of the corresponding annual income, received by whom is considered to be an employee for tax purposes.

I. Conditions

This benefit will only be applicable as soon as those points listed in Article 332 of the Tax Code are deducted from the total income obtained by the employee and as long as during the 12 months of the year the benefit never outweighs 240 UVT ($6,787,000 – 2015 values), without excluding any monthly excess to be left out of the benefit. This judgment and its effects do not apply during the tax year 2015.

2017-09-18T13:27:55+00:00 14/09/2015|Latest news|