COLOMBIA Law and Practice Contributed by: Rodrigo Castillo Cottin, Ana María López and Alejandra Becerra, Rimon, P.C.
Of the gifts made to entities operating under the spe - cial tax regime, 25% can be credited for income tax purposes. However, the above-mentioned requisites must be met. 10.2 Common Charitable Structures Entities approved by the CTO as eligible for the spe - cial tax regime are subject to income tax at a 20% rate. However, any income surplus is considered exempt, if the funds are destined directly or indirectly for programmes that develop the entity’s social pur - pose and meritorious activities. Any excess benefits or surpluses that are not reinvested in programmes that develop the entity’s social purpose are deemed as taxable for the next fiscal year.
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