Summary of cost of living in Medellin, Colombia:
Restaurants | Edit | Range |
---|---|---|
Meal, Inexpensive Restaurant | 5.90 $ | |
Meal for 2 People, Mid-range Restaurant, Three-course | 28.33 $ | |
McMeal at McDonalds (or Equivalent Combo Meal) | 6.73 $ | |
Domestic Beer (1 pint draught) | 1.30 $ | |
Imported Beer (12 oz small bottle) | 2.83 $ | |
Cappuccino (regular) | 1.56 $ | |
Coke/Pepsi (12 oz small bottle) | 0.98 $ | |
Water (12 oz small bottle) | 0.71 $ | |
Markets | Edit | |
Milk (regular), (1 gallon) | 4.02 $ | |
Loaf of Fresh White Bread (1 lb) | 1.28 $ | |
Rice (white), (1 lb) | 0.57 $ | |
Eggs (regular) (12) | 1.99 $ | |
Local Cheese (1 lb) | 2.07 $ | |
Chicken Fillets (1 lb) | 2.30 $ | |
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 4.56 $ | |
Apples (1 lb) | 0.96 $ | |
Banana (1 lb) | 0.41 $ | |
Oranges (1 lb) | 0.57 $ | |
Tomato (1 lb) | 0.57 $ | |
Potato (1 lb) | 0.48 $ | |
Onion (1 lb) | 0.51 $ | |
Lettuce (1 head) | 0.85 $ | |
Water (1.5 liter bottle) | 0.81 $ | |
Bottle of Wine (Mid-Range) | 9.44 $ | |
Domestic Beer (0.5 liter bottle) | 1.08 $ | |
Imported Beer (12 oz small bottle) | 1.95 $ | |
Cigarettes 20 Pack (Marlboro) | 2.12 $ | |
Transportation | Edit | |
One-way Ticket (Local Transport) | 0.73 $ | |
Monthly Pass (Regular Price) | 43.67 $ | |
Taxi Start (Normal Tariff) | 1.27 $ | |
Taxi 1 mile (Normal Tariff) | 2.72 $ | |
Taxi 1hour Waiting (Normal Tariff) | 6.85 $ | |
Gasoline (1 gallon) | 3.52 $ | |
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 18,293.69 $ | |
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 28,362.30 $ | |
Utilities (Monthly) | Edit | |
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 75.89 $ | |
Mobile Phone Monthly Plan with Calls and 10GB+ Data | 9.15 $ | |
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 23.23 $ | |
Sports And Leisure | Edit | |
Fitness Club, Monthly Fee for 1 Adult | 26.34 $ | |
Tennis Court Rent (1 Hour on Weekend) | 15.34 $ | |
Cinema, International Release, 1 Seat | 3.89 $ | |
Childcare | Edit | |
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 237.62 $ | |
International Primary School, Yearly for 1 Child | 6,090.03 $ | |
Clothing And Shoes | Edit | |
1 Pair of Jeans (Levis 501 Or Similar) | 56.53 $ | |
1 Summer Dress in a Chain Store (Zara, H&M, ...) | 34.04 $ | |
1 Pair of Nike Running Shoes (Mid-Range) | 88.03 $ | |
1 Pair of Men Leather Business Shoes | 87.42 $ | |
Rent Per Month | Edit | |
Apartment (1 bedroom) in City Centre | 459.15 $ | |
Apartment (1 bedroom) Outside of Centre | 352.14 $ | |
Apartment (3 bedrooms) in City Centre | 842.03 $ | |
Apartment (3 bedrooms) Outside of Centre | 730.84 $ | |
Buy Apartment Price | Edit | |
Price per Square Feet to Buy Apartment in City Centre | 136.46 $ | |
Price per Square Feet to Buy Apartment Outside of Centre | 130.02 $ | |
Salaries And Financing | Edit | |
Average Monthly Net Salary (After Tax) | 417.52 $ | |
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 15.69 |
Cost of Living in Manizales | 120.29 miles |
Cost of Living in Armenia | 161.05 miles |
DeutschLebenshaltungskosten in Medellin |
PortuguêsCusto de Vida em Medellin |
ItalianoCosto della Vita a Medellin |
FrançaisCoût de la Vie à Medellin |
EspañolCosto de Vida en Medellín |
Petro announced September 2022 no more taxes on retirement pensions for foreigners retired in Colombia.Hes running out of money for infrastructure and social medicine for Colombians
However taxes shouldn't have ever been for retired foreigners pensions contributing to the Colombian economy in the first place.
Colombia has always been a mixed bag of corruption against retired foreigners.Unfortunately for Colombia their dishonest actions against retired foreigners has backfired upon Colombia especially since retired foreigners are leaving by the thousands and never returning to Colombia again.
Karma bites suffer
After reading the posts from the Colombia accountant letting you know the person who posted that information is absolutely correct.
We are retired Americans who lived in Colombia exactly 1 year and then we left permanently.When we moved to Colombia in the beginning we hired a supposed reputable tax accountant in Medellin. We were assured we wouldn't pay any taxes on our pensions but that was false. Out accountant in Medellin called us 4 days before the tax deadline approached.He went over our income jointly from social security and told us we owed taxes plus penalties for not informing the Colombia tax headquarters when we entered the country.My husband laughed and said you must be thinking about someone else but he said he wasn't joking. Needless to say he charged us $200 usd for looking at our tax liability in the beginning. Then he said it'll be $300 usd this time since his services went up but we didn't pay him this time. We went to the tax office and paid the taxes we owed Colombia which was over $4,000 usd.After we paid our taxes we left that day. Always remember Colombia doesn't have a tax treaty with the united states.
Does your retirement pension counts toward the variable percentage calculation if you also have non retirement income from abroad?
I could not find answers to these questions. However, I am now sure that Colombia does tax retirees if they pensions come from abroad (see https://contadorespublicossantander.com/?p=10041#:~:text=solo%20los%20aportes%20que%20se%20efect%C3%BAan%20a%20fondos%20de%20pensi%C3%B3n%20en%20el%20pa%C3%ADs%20gozan%20del%20beneficio%20fiscal%20antes%20referido%2C%20no%20as%C3%AD%20los%20que%20se%20realicen%20a%20fondos%20en%20el%20exterior%E2%80%9D.).
For instance, if you make $2,000/month from US Social Security Retirement and $1,000/month from Internet work (US funds from the USA), Would you pay like 15% from the SSA ($300/month)? Will regard to the $1,000, would they tax you in an income bracket based on earning totaling $1,000 or $3,000? I appreciate any answer or part of the answer. I will probably talk to a Colombian accountant about this.
I know that the law is about to change and that this new government is going to charge taxes even in local pensioners, that is, those who make more than 10,000,000 COP. But again, this new proposed law will apparently apply only to pensioners who get their money in Colombia, not from foreign sources (See: https://www.semana.com/amp/finanzas/impuestos/articulo/los-pensionados-que-pagaran-cero-impuestos-y-los-que-pagaran-de-400-mil-mensuales-en-adelante/202200/#:~:text=Quienes%20ganen%2010%20millones%20de%20pesos%20o%20menos%2C%20pagar%C3%A1n%20cero.%20%E2%80%9CDe%20ah%C3%AD%20en%20adelante%2C%20entra%20en%20la%20tabla.%20Ese%20rango%20es%20un%20poquito%20m%C3%A1s%20del%2020%20%25%E2%80%9D%2C%20dijo.).
Retired tax accountant Colombia
Kala Medellin
Kala Medellin
I'm a tax accountant in Medellin and I have been almost 34 years. Dian will only tax retirement pensions regardless of what country provides it after it reaches $105,000 usd or the equivalent of other currencies. If a person owns a home, land, or has other things like ira, cd, etc from their own country they'll be taxed on those things by Dian.No pensioner is taxed unless it reaches about $105,000 usd but when it does it's taxed at 19%.
Sofia
Sofia
Sofia
Thanks
I was also under the understanding that you are either granted a resident status or not, I am assuming you intentionally never got resident status? if you did receive resident status don't assume it just magically changes to nonresident status depending on your data in the country. It is true you can lose your resident status being away too much but things take time, you may assume you lost it but still be listed as a resident.
But it sounds like you are essentially living there full time, I would bet that you owe a lot of money and just have been lucky and not been caught yet.