Colombia Payroll Outsourcing Alert

Colombia– Minimum Salary and Transportation Subsidy increased for 2022.

The government of Colombia has issued Decrees No. 1724 and 1725 of 2021 and in accordance with these decrees, the Minimum Wage (Salario Mínimo Legal Mensual Vigente – SMVL) and the Transport Allowance will raise by 10.07%, effective from 1 January 2022.

According to Decree No. 1724 of 2021, the new Minimum Salary will be COP 1,000,000 COP per month.

According to Decree No. 1725 of 2021, the new Transport Allowance/Subsidies will increase to COP 117.172 COP per month.

In addition, the National Directorate of Taxes and Customs (DIAN) has issued Decree No. 140 of 2021, increasing the Tax Value Unit (UVT) by 4.67% to COP 38.004.

Mercans’ Colombia Payroll Outsourcing Solutions

While Mercans’ Colombia Payroll Outsourcing alerts will allow you to stay on top the latest development in Colombia’s payroll regulations, you should still get in touch with Mercans’ Colombia payroll outsourcing, compliance, PEO/GEO and BPO specialists for a free consultation on setting up fully compliant payroll and HR functions. Better yet, outsource your payroll and HR activities in Colombia to Mercans and our Colombia payroll outsourcing experts will ensure that your employees will always be paid on time and in accordance with the Colombia regulations.