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Meaning of cuatro por mil

Danilo Enrique Noreña Benítez Image
Danilo Enrique Noreña Benítez

cuatro por mil

Alleged tax or temporary levy that became permanent. It is a levy that financial institutions charge every Colombian who makes withdrawals from their accounts (whether savings or current), in payments and in transfers. It was created in 1998 and initially it was only 2 per thousand. ( It's a little concealed robbery).


Jorge Luis Tovar Díaz Image
Jorge Luis Tovar Díaz

In Colombia, the four per thousand ( 4X1000), also known as the Financial MovementS Levy (GMF), is a tax that applies to some financial movements, specifically to withdrawals from savings accounts and current accounts.


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