Your Latin America Tax To-Do List Before August: Four Deadlines That Actually Move

Latin America · Taxes

Four tax threads across Latin America move before August, and each one can reach a foreigner’s income or assets. Here is the short, actionable list — what is happening, who it touches, and the date or step that matters.

Colombia: a reform filed July 20

Colombia’s government files its fifth tax-reform attempt on July 20, as the new Congress installs. The bill would raise the top personal income-tax rate toward 41 percent, add wealth-tax tariffs on the largest fortunes, and trim some VAT exemptions.

For foreigners, the reach is through tax residency: someone in Colombia more than 183 days is taxed on worldwide income. The reform is a bill without majorities, so nothing changes yet, but residents should track it.

Argentina: recategorise Monotributo by August 5

Argentina’s simplified Monotributo regime for small taxpayers raises its brackets 16.8 percent in August, in line with first-half inflation. The top annual billing ceiling climbs to about 126.5 million pesos.

If you bill local clients as a monotributista, you have until August 5 to review your last twelve months of invoicing and confirm or change your category. Miss it, or sit in the wrong band, and you risk penalties or exclusion.

Uruguay: the new foreign-income tax is collecting

Since January 2026, Uruguay taxes residents’ foreign capital income, at 12 percent, or 8 percent if it is withheld at source. A look-through rule can catch income held through offshore companies, closing a route that once kept foreign earnings untaxed.

New residents can still claim a one-off tax holiday on foreign income, but the window is tied to the year you become resident. If you hold offshore assets, check how the rules apply before year-end.

Chile: file to extend the exemption

Foreigners who move to Chile are taxed only on Chilean-source income for their first three years, a valuable exemption for new arrivals. It can be extended for a further three years, but only on application to the tax authority, the SII.

The extension is not automatic, so anyone approaching the end of the initial period should file in time rather than assume it rolls over.

How to use this list

Two of these are hard dates, Argentina’s August 5 recategorisation and Colombia’s July 20 filing, while Uruguay and Chile are ongoing rules that reward acting early. Put the dates in your diary and match each to your own situation.

None of this is tax advice, and the details turn on your residency and income. A local accountant in each country is the reliable way to confirm what applies to you.

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