Vehicle owners in Colombia, including those in the capital city and throughout the country, are required to pay the annual vehicle tax, which is a mandatory process that applies to «ownership or possession,» as explained by the Bogotá City Hall. Failure to fully pay the tax could result in fines or significant penalties. To prevent this, various departmental and district Mobility Secretariats offer early payment discount campaigns, ranging from 10% and up. They also provide physical and virtual channels to make the payment process easier for vehicle owners.
It is worth noting that some two-wheeled vehicles are exempt from taxes, which comes as a relief to many people. The determining factor is the motorcycle’s engine displacement, which must be equal to or less than 125 cc. Scooters or bicycles are also exempt from payment. These motorcycles with lower engine displacement do not use as much fuel, resulting in lower costs.
If you are unsure how to determine the engine displacement of your motorcycle, you can find this information on the vehicle’s registration card. These motorcycles are not only exempt from the vehicle tax but also from tolls and VAT when purchased new, thanks to Law 488 of 1998. This legislation provides these benefits considering that these types of motorcycles are one of the main means of transportation and livelihood for the lower income groups in the country, with equally low operating costs.
In terms of the vehicle tax rates for 2024, they were set by Decree 2228 of December 22, 2023, and apply nationwide. The rates are as follows:
– Vehicles up to $54,057,000: 1.7%
– Vehicles between $54,057,001 and $121,625,000: 2.7%
– Vehicles $121,625,001 and above: 3.7%
– Motorcycles over 125 cc: 1.7%
– Electric vehicles: 1.2%
It is important to mention that there are discounts of 60% for electric vehicles and 40% for hybrids, applicable for the first five years after registration. Additionally, penalties for late payment incur a charge of 1.5% per month on the tax amount, not exceeding 100% of the total tax.
