In Colombia, the tax auditors are required to be those indicated in article 203 of the Code of Commerce and the commercial companies that reach the ceilings of assets and income mentioned in paragraph 2 of article 13 of Law 43 of 1990. See more details below. Commercial companies will have to verify the value … Read more
While President Iván Duque assures that this is not yet the time to present a tax reform, the Minister of Finance thinks otherwise. The tax reform would not be presented during the first quarter of the year. The President of Colombia, Iván Duque, has said that he considers that in the middle of the pandemic … Read more
Goods related to renewable energies went from excluded to exempt from VAT. The Government will authorize micro-companies and companies obliged to keep accounting records to do so in a simplified manner. Virtual tax inspection and virtual administrative inspection visits are included. With the enactment of Law 2069 of 2020 or Entrepreneurship Law, national entrepreneurs have … Read more
The tax penalty regime contemplates different types of penalties for each of the obligations administered by the Dian. On this occasion we address the tax penalties to which withholding agents authorized by law may be exposed. Those individuals or legal entities authorized by law to act as withholding agents must comply with the obligations set … Read more
Find out the main details related to the registration, update and cancellation of the RUT. Remember that this document allows you to know, among other aspects, the novelties stipulated by the Dian regarding the RUT in 2021. Pensioners who file income tax returns will have to update the RUT The reason why pensioners who file … Read more
For many, the exemptions available to companies should be reviewed and redesigned. They also add that the Government is thinking of solutions that imply less effort, and one of them is the VAT on the family basket. It is expected that in the first semester the tax reform will be debated. Fiscal and social reform; … Read more
According to Resolution 000042 of 2020, those subjects indicated in article 6 of the mentioned resolution will be obliged to issue electronic sales invoices. Those who are obliged and omit this responsibility will be exposed to certain penalties contemplated in the Tax Statute. If a person obliged to invoice electronically does not issue the respective … Read more
Rules must be established to determine whether or not other taxes on digital services will be assessed. New exemptions must be tested to stimulate demand and it is stated that the tax on digital platforms is in default of implementation. Digital platforms pay two taxes in Colombia: VAT and reteica. The fact that our country … Read more
With Resolution 000013 of February 11, 2021, the Dian issued the regulation of the electronic payroll support document. The authorization process in the electronic platform of the Dian will begin on May 31, 2021. The document must be issued as from July 1, 2021. After on December 17, 2020 the Dian published on its web … Read more
Removing some income benefits and having more people declare and contribute to this tax could be another alternative to increase tax collection. According to a Dian report, 18.5% of the fiscal cost of these exemptions comes from income, which represented $17.1 trillion in 2019. This barely represents 1.6 % of GDP and 65 % corresponds … Read more
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