Following the Constitutional Court's ruling on Legislative Decree 1474/2025, Colombia's DIAN will process $25 billion in refunds using Tax Refund Titles (Tidis) for amounts over 1,000 UVT, with cash for smaller claims. Tidis are tradable debt instruments usable only for DIAN taxes.
The Constitutional Court ordered refunds of funds collected under the unconstitutional decree, including $23.8 billion from a 1% tax on first exports of coal and hydrocarbons, and $1.2 billion from additional VAT on liquor imports. DIAN must implement mechanisms within 30 days.
For refunds exceeding 1,000 UVT (roughly $45,000), DIAN will issue Tidis—debt titles from the Nation via the Ministry of Finance. These are delivered through refund resolutions and deposited into taxpayers' subaccounts at authorized banks like Bancolombia. As national currency instruments, Tidis can only offset taxes managed by DIAN and must be redeemed in the following calendar year or depreciate.
Former DIAN director Lisandro Junco described them as 'bonds that the State delivers when it has to return taxes to someone.' Taxpayers can trade Tidis on the market for liquidity by selling to parties with DIAN tax obligations.
DIAN will issue mass resolutions after cross-checking data and verifying payments, particularly for indirect taxes like VAT or consumption levies. Taxpayers must prove payments to claim refunds, which vary by amount: cash for small claims (e.g., a bottle of liquor) or Tidis for larger ones.
