Vehicle owners across the country are getting ready to pay their vehicle tax for 2024. The Mayor’s Office has announced that those who pay on time will be eligible for discounts. However, those who wait until the last minute to pay may face penalties and interest charges for late payment.
Late payments will be subject to a 1.5% penalty per month or fraction of a month of delay on the value of the tax payable, not exceeding 100% of the tax. The minimum penalty for the year 2024 is 7 UVT ($329,000) for all motor vehicles. On the other hand, those who pay within the established dates may receive benefits of up to 70%.
To calculate the cost of the tax, you must take into account decree 2228 of 2023 announced by the national government, which establishes the percentages of the value that must be paid according to the car’s appraisal. The tax rates vary depending on the value of the vehicle, ranging from 1.7% to 3.7%. The readjustment began to take effect on January 1, 2024.
For drivers in Bogotá, the tax must be paid by June 28, 2024. Those who pay before May 24 will receive a 10% discount. The invoice can be downloaded and paid on the Ministry of Finance website. Additionally, there are discounts available for new electric hybrid and electric cars registered in Bogotá.
Taxpayers can make payments at authorized banks and banking correspondents, including Bancolombia, Banco de Bogotá, Banco Popular, Banco de Occidente, Scotiabank Colpatria, Banco GNB Sudameris, Davivienda, AV Villas, Éxito, PagaTodo, and Efecty. However, there are certain vehicles that are exempt from paying the tax, such as bicycles, scooters, motorcycles with engines up to 125 cc, public passenger transport vehicles, and certain industrial vehicles and machinery.
It is important for vehicle owners to be aware of the payment deadlines, potential discounts, and penalties for late payment to ensure they fulfill their tax obligations in a timely manner.
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