Households in poverty and extreme poverty levels will be identified through Sisbén. A selection will be made by territorial entities, giving priority to departments and municipalities according to poverty concentration levels, total population and coverage of social programs. Through a draft decree, the Ministry of Finance seeks to regulate the VAT refund mechanism for the … Read more
The Dian regulated the tax deadlines set in the Growth Law and included the changes made due to the coronavirus pandemic and its effect on several industries. Due to the spread of the coronavirus in Colombia, the National Tax and Customs Directorate (Dian) gave the go-ahead to change some dates for tax returns and payment … Read more
The Supersociedades extended the deadlines for companies to submit their 2019 financial statements, due to the contingency situation in the country as a consequence of COVID-19. In this editorial we relate the new deadlines, as well as the information and those obliged to report. The Superintendence of Companies -Supersociedades- issued on March 17, 2020 External … Read more
By means of Resolution 011004 of October 29, 2018, the Dian indicated the content and technical characteristics for the presentation of the exogenous information report for the taxable year 2019. Taking into account the emergency due to the spread of COVID-19, the Dian, through Resolution 000027 of 2020, extended the deadlines to comply with this … Read more
It is appropriate for entities to consider the impact of the pandemic on accounting conclusions and related disclosures. Entities may need to assess whether the impact of COVID-19 has led to impairment of any assets. In its IFRS in Focus section, Deloitte publishes the report Accounting considerations related to Coronavirus disease 2019, the purpose of … Read more
Through Decree 419 of March 18, 2020, the Ministry of Finance regulated the criteria for the recognition and payment of compensation in favor of the most vulnerable population. This program would start in April, as a measure to mitigate the economic vulnerability of households affected by COVID-19. After having published a draft decree through which … Read more
Decrees 401 and 435 of 2020 made changes to file and pay taxes. Dian announced that the filing of exogenous information for the taxable year 2019 will be postponed. Supersociedades modified calendar for filing financial statements of companies as of December 31, 2019. On Tuesday, March 17, 2020, the President of Colombia, Iván Duque, decreed … Read more
The Ministry of Labor adopted measures to mitigate the economic impact of the sanitary emergency on workers’ income, authorizing the partial withdrawal of severance payments and reinforcing the mechanism for the protection of the unemployed. It also establishes provisions related to the granting of vacations. In view of the state of emergency currently faced by … Read more
Asset impairment and impairment of the going concern assumption are two of the most adverse consequences of COVID-19 on entities’ financial reporting. Entities may have to amend the figures in their 2019 financial statements or include disclosures in this regard. Impairment of assets With the objective of performing year-end impairment tests, or those currently required … Read more
In the midst of the economic slowdown generated by COVID-19, it was established that applicants that are not qualified as high risk will be refunded in only 15 days. The Dian continues without prescribing the forms 210 and the one corresponding to the annual SIMPLE return. On April 10, 2020, the National Government, under the … Read more
Share your requirement with us