A company issuing an invoice without the requirements requested by the Dian may face fines equivalent to 1% of the value of the invoiced operations, without exceeding a maximum of 950 UVT; approximately 32 million pesos. With the publication of Decree 2242 of 2015, several myths and truths have been generated related to the implementation … Read more
Article 49 of Law 1955 of May 25, 2019 (PND for the 2018 to 2022 term) provided that as of January 1, 2020 all fines, fees, tariffs, penalties and stamps that are currently expressed in terms of current legal monthly minimum wages -smmlv- (case, for example, of traffic fines, penalties of the Criminal Code and … Read more
The president, Iván Duque, announced a series of measures included in the tax reform which was filed by the executive. Among them are: three days without VAT per year, VAT refund to the most vulnerable, reduction of health contributions for pensioners and work incentives for young people. Before the media, Duque said: “One of the … Read more
Through Bulletin 46, the Ministry of Finance announced the filing of the report for the first debate of the tax reform bill “Economic Growth Law”. This text includes specific measures that, according to the Government, would help both the middle class and the most vulnerable. “The Ministry of Finance announced the filing of the report … Read more
The 2019 tax reform proposal contemplates the creation of a sales tax -VAT- compensation mechanism in favor of the most vulnerable population. Upon reviewing the regulations, it is evident that such proposal has some structural gaps for its implementation. After the study and discussion of the report presented by the Government on the 2019 tax … Read more
The tax reform bill or Economic Growth Law was approved in the early morning of Friday, December 20. It will now pass to presidential sanction. Learn about the package of measures to which Colombians will have to pay attention as from January 1, 2020. The law has 152 articles and from the Government’s point of … Read more
After failing to reach an agreement between employers and workers in the negotiations, President Iván Duque announced the adjustment of the minimum wage for next year. The Government defined a 6% increase in the minimum wage in Colombia, which means an increase of $49,686. The increase will also be of the same percentage for the … 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 again … Read more
The first installment of income tax for large taxpayers will be paid between February 11 and 24, 2020. Declaration and payment of withholding tax will also begin in February. In March, the bimonthly VAT payment will begin. Through Decree 2345 of 2019, the Ministry of Finance modified DUR 1625 of 2016 and established the deadlines … Read more
Decrees 2170 of 2017 and 2483 of 2018 introduced new standards that began to apply in 2019, the first impacts of which will be seen in the financial statements for this period. In this editorial we summarize the main changes that you should include in your reports. In the preparation of the 2019 financial statements … Read more
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