Entities under the special regime may deduct expenses for any type of national or territorial tax, in accordance with article 1.2.1.1.5.1.21 of DUT 1625 of 2016, after being modified with Decree 2150 of 2017 and ratified by the answer to question 4.47 of Unified Concept 481 of 2018. Non-profit foundations, corporations and associations, as well … Read more
Taxpayers who did not file income tax returns may still do so. These persons must pay a penalty for untimeliness corresponding to 5% of the tax per month or fraction of month and liquidate the corresponding interest. Last October 19 was the deadline for individuals to file income tax returns with the Dian, however, the … Read more
The Ministry of Finance and Public Credit issued the draft tax calendar for 2019, by means of which Decree 1625 of 2016 on tax matters would be amended, in order to substitute and add articles in order to establish the deadlines to declare and pay in the following year. The Ministry of Finance and Public … Read more
The director of the DIAN explained a series of points included in the financing bill presented on October 31. He talks about the gradual reduction of VAT and the VAT refund, as well as the novelties of the income tax for companies and individuals. The National Government presented on October 31, 2018, before the Congress … Read more
The 87 articles of the Finance Bill filed on October 31, 2018 would end up affecting 164 rules of the ET and 19 additional rules. In several of the proposals raised therein, important deficiencies can be detected that must be corrected by Congress during its processing. Complying with the eternal custom of the most recent … Read more
Article 7 of the financing bill intends to add numeral 4 to Article 437-2 of the ET to revive the withholding of VAT assumed to the simplified regime. In addition, it would repeal Article 485-1 of the ET, to prevent the withholding agent from taking the assumed withholding as deductible VAT. Among the multiple changes … Read more
This is contemplated in Article 512-15 of the ET. In addition, if the new simple taxation regime proposed in the financing bill is approved, those who adhere to it would have to continue charging the national consumption tax on plastic bags. The rule contained in Article 512-15 of the ET, created with Article 207 of … Read more
The Ministry of Labor, through a press release, announced the figures that will govern the minimum wage for 2019. At the negotiation table between the National Government, the economic unions and trade union organizations, an agreement was reached for an increase of 6% for the salary and 10% for the transportation allowance. On December 20, … Read more
The DIAN announced the increase in the Tax Value Unit (UVT), which establishes the basis for taxpayers to calculate their taxes. Through Resolution 56 of November 22, 2018, the National Tax and Customs Directorate (DIAN) revealed that the UVT for 2019 will be $34,270. That means that the increase will be 3.36% with respect to … Read more
Those indicated in Article 203 of the Code of Commerce and commercial companies that meet the requirements of paragraph 2 of Article 13 of Law 43 of 1990 must have a statutory auditor. In this editorial we mention the amounts of assets or income that generate such obligation. Commercial companies will have to verify the … Read more
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