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Income tax return: Penalty for untimely filing of tax returns

When the taxpayer does not file his return within the deadlines stipulated by the Government, it is advisable to do so before the Dian issues the summons for not filing, otherwise the penalty will be doubled; the tax reform introduced the possibility of reducing certain penalties. Let us answer the following question: When a person … Read more

Individual income tax: schedular system mechanism

What is the schedular system for individuals? The schedular system is a mechanism through which a taxable base and an income tax rate is determined for individuals, depending on the type of income received, applying to each of them a special mechanism of income purification and a different rate. In general, it is a matter … Read more

Monotax: its elimination and the new creation of a simple regime

The director of the Dian, José Andrés Romero, catalogued the results of the monotributo as a failure, since out of the 500,000 possible beneficiaries, only 12 beneficiaries have complied with the requirements. “The monotributo did not work. We are going to remove it and create a simple regime that serves small and medium-sized companies in … Read more

Income tax return: Penalties for not filing on time.

On October 19, 2018, the deadlines for filing the income tax return of individuals will end. If you did not file it in accordance with the established dates, you must calculate the penalty for untimeliness, following the guidelines established in article 641 of the ET. When a natural person is required to file the income … Read more