New 4×1,000 Financial Transaction Tax Remains Unimplemented After One Year
Bogotá, Colombia – A new system designed to simplify and modernize Colombia’s financial transaction tax, often referred to as the “4×1,000,” remains stalled one year after its approval due to integration issues with entities beyond the banking sector.The reform aimed to exempt individuals with transactions totaling less than 4,000,000 pesos across multiple bank accounts.
Under the new rules, a person with two or three accounts in different banks making combined transactions below the threshold would not be subject to the tax – a change intended to align with modern personal finance practices.
tho, implementation has been paused as other entities responsible for collecting the tax have been unable to integrate into the unified system mandated by law. Neither the government nor the dian (Colombia’s tax and customs authority) has provided a firm implementation date, leaving users and financial institutions in a state of regulatory uncertainty.
The issue was highlighted at the 23rd Asobancaria Risk Congress, where Asobancaria President Fabián Vera delivered a diagnosis of the country’s economic situation and challenges for 2026.
Despite banking sector compliance, the lack of broader system connectivity is preventing the new rules from taking effect. A bill currently seeks to dismantle the 4×1,000 entirely,starting in 2027.
Asobancaria projects inflation to close 2025 between 5.2% and 5.4%, driven by public spending and domestic demand, potentially keeping the central bank’s reference rate at 9.25% until at least January 2026. The entity estimates economic growth of 2.8% to 3% for 2025, largely fueled by consumption, and a more favorable growth rate of around 3.4% in 2026, contingent on inflation subsiding.
“Everything will depend on the speed with which inflation subsides,” Vera stated, noting that prolonged high interest rates can hinder investment. He also emphasized the need to re-integrate individuals excluded from the financial system due to negative credit reports,proposing a public recapitalization policy with flexible products and monitoring.
