What Is The Tax On Financial Movements?

income tax

The tax is still applied to financial movements (GMF), or the well-known 4X1000 in Colombia. Tax charged to financial transactions made as withdrawals. It is made to savings accounts, checking accounts, withdrawal in management check and deposits of the Daisy Bank.

It is a tax of the National Government created to cover the crisis and for having in the country. The collection is done by all banks, but then sent to the government coffers. Its history begins towards the year 1998, in order to raise money temporarily to stabilize the economic system crisis. But when problem after problem arose in the economy of the country, the tax was settled as permanent.

The attempt to dismantle it has been in vain, the financial crises have achieved their decree to follow. With the law 1819 in 2016, it was implemented as permanent. Due to their excessive collection for all financial movements, people began to take out all the money from bank accounts. The affectation caused the lack of money circularization. Therefore, the government proceeded to make some exceptions to the movements .


Tax exemptions to financial movements

Tax exemptions to financial movements

  • Each holder has the right to exceptionally mark a savings account. To avoid charging 4X1000, you should not exceed the amount of $ 11,994,500 for the year 2019.
  • Also exempt from 4X1000, all transactions in the form of transfer between accounts of the same holder. Whether savings, checking, collective accounts that are in the same bank.
  • All movements made to a single holder from stock brokerage companies, fiduciaries or investment managers. Of course they are monitored by the Superfinancial.
  • Pensioners are exempt from the account opened to receive the pension from the entity that, as a pension fund, records their allowance.


An incentive to the assessment of financial movements

financial movements

Finally, companies have the right to have five exempt accounts, as the government gives them the opportunity to encourage investment. So they can access credits and maintain good relations with financial institutions.

With the tax reforms currently made it has not been possible to dismantle this tax. Most likely it will be for a long time.


Save money being the smartest | Debts

You are one click away from buying what you want! And, of course, that in principle sounds like an excellent idea until that moment when, in the middle of the month, you don’t have a euro. Of course, you have new games for the console, two great jeans and even a musical instrument that you will probably never learn to play …

Does that happen to you Keep reading! You are one of the more than 11 million Spaniards who have been seduced by online shopping, perhaps part of that 50% of e-buyers who buy from their mobile phone in Spain , according to the ABC , and from Good Finance we want to help you passing through AllShop and other similar sites is an adventure road that never becomes a valley of debt. ?

Purchase discounted items


You want to buy on AllShop, but you don’t always have to buy < > per se: its AllShop Warehouse Dealer offers section can give you a lot of joys by allowing you to purchase discounted items by up to 50% thanks to a broken wrap or inventory renewal , so stop thinking about buying with one click and think in doing so with six or seven, it can save you some euros … come on, you can, hunter-barking!

Threaten them … in a good way

What would you do if someone offers you to buy something you sell and then leaves without taking it because the money is not enough? Exact! AllShop is almost as smart as you, so if you add your desired items to the shopping cart and then do not buy them, it is possible that from the platform, days later, you get an offer that could be reduced by up to 20% what You are trying to buy . A case of skill and patience whose success is totally unpredictable, but it’s worth a try!

The comparisons are not good, but …


When it comes to money, you have to put aside manners a little: Compare, compare and compare, that AllShop is not necessarily the cheapest place to buy. Just like when you go to physical stores and check prices, looking for the same product in different places can help you know if you are making the right choice. There are endless Websites like specialized in looking for AllShop products in other retailers and snatching in smiles what you are not getting snatched in money.

Low …

Sadness? Sadness is buying you something at a price and seeing it much cheaper just a few days later! It has happened to all of us, that’s why they have already invented ways to reduce this risk, such as the HunchHunch Website, which evaluates the evolution in the prices of the same object in AllShop to help you know if it tends to stay, lower or increase its cost. In some cases you can witness a real downturn at a price that allows you to even access some extra whim, try it!

Subscribe and save

Tell AllShop what you would like to buy in the next month and the platform will be in charge of reminding you thanks to its little known “Subscribe and Save” section, thanks to which you will receive a monthly email reminding you of the items you wanted and offering you benefits such as free shipping or discounts of up to 15% on the original cost .

Oulets, oulets, oulets!

Say you don’t love oulets and you’ll break our hearts … Every good saver loves to buy previous seasons, broken boxes or imperceptible factory faults that make prices plummet! The great news is that AllShop has its own Oulet so that mortals can do their best without plucking: we are talking very seriously, up to 70% off !