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Tax Statute (Estatuto Tributario)

Decree 624 of 1989. DIAN compilation in Spanish, plus Luque Law’s unofficial U.S. English desk translation. Not a gazette; confirm the official Spanish text.

Spanish is the DIAN compilation. English is Luque Law’s unofficial U.S. desk translation, not a gazette.

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Official sourceDecreto 624 de 1989 — Compilación Jurídica DIAN

→ Art. 282

Art. 282

Fuente original compilada: D.2053/74 Art. 106 The taxable net worth (*patrimonio líquido gravable*) is determined by subtracting from the gross worth held by the taxpayer on the last day of the taxable year the amount of debts owed by the taxpayer that are outstanding on that date.

Translator’s notes

Unofficial desk rendering (U.S. English). Notes flag ambiguity and the U.K./OECD equivalent a common-lawyer might expect.

patrimonio líquido gravable → taxable net worth

U.K./OECD: chargeable net wealth

Colombian wealth-tax base. Not 'estate' (probate) or 'equity' (accounting). U.S. lawyers may confuse this with estate-tax concepts; Colombia taxes patrimonio annually on living taxpayers. The U.K. term 'net wealth' is closer but Colombia uses a schedular system, so 'chargeable net wealth' fits U.K. style.

patrimonio bruto → gross worth

U.K./OECD: gross wealth

Total assets before liabilities. 'Gross worth' keeps the parallelism with 'net worth' in U.S. tax English. U.K. would say 'gross wealth'. Not 'gross estate'—this is a balance-sheet concept for living taxpayers.

año o período gravable → taxable year

U.K./OECD: year of assessment

Standard rendering. Colombian default is calendar year unless the taxpayer has DIAN approval for a different period.

deudas a cargo del mismo → debts owed by the taxpayer

U.K./OECD: liabilities of the taxpayer

'Debts' is the literal and correct term. U.K. style might prefer 'liabilities' for accounting precision, but the statute says deudas (debts), so we keep it.

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Tax Statute (Estatuto Tributario)

Art. 282

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