The criteria for classification as a micro, small, medium or large company are different for commercial and accounting purposes. This means that in certain cases some companies are affected by the cost of implementing the current accounting regulatory frameworks. Some of us have been advocates of the application of International Financial Reporting Standards because of … Read more
The National Government published Resolution 1361 which stipulates the steps and regulates the process for companies to access the subsidy to pay the labor bonus of employees. The bonus subsidy applies to employees earning up to $1 million per month and will be of $220,000 to be provided by the Government. Companies that have had … Read more
In addition to the tax penalties of Article 651 of the ET, those responsible for the reporting of exogenous information may incur in the penalty for passive evasion of Article 658-2 of the ET. The principle of favorability set forth in article 640 of the ET is not applicable to this penalty. Another penalty that … Read more
For the taxable year 2019, individuals and unliquidated successions, with the exception of those indicated in article 1.6.1.1.13.2.7. of Decree 2345 of December 23, 2019, as well as assets destined for special purposes by virtue of donations and modal allocations, whose donees or assignees do not personally usufruct them, and non-resident individuals who obtain income … Read more
As of August 11, 2020, the deadlines for filing income tax returns corresponding to the taxable year 2019 by individuals and unliquidated successions in Colombia begin. But who is obliged to file this return? All individuals and illiquid successions that meet any of the following conditions must file income tax returns for the taxable year … Read more
Law 1943 of 2018, Court rulings issued during 2019, multiple decrees issued between 2018 and 2020, as well as several resolutions issued by the Dian are among the rules to be taken into account for this delicate process. In the preparation and filing of the income tax return or simple regime for the taxable year … Read more
Tax losses formed in the income tax return of the taxable year 2019 of resident individuals of the ordinary regime cause it to remain open for 5 years. If there is a transfer to SIMPLE during 2020, such losses may not be offset within such regime. According to the scheduling system applicable for the taxable … Read more
For the remainder of 2020, it is important that taxpayers of the different national taxes are attentive to the deadlines of their pending tax obligations. Otherwise, they may be exposed to tax penalties. Each year, the National Government issues a decree through which it establishes the deadlines in which taxpayers of the different national taxes … Read more
The income tax return is a legal and mandatory procedure, which applies to all persons who generate income or have assets in Colombian territory, regardless of whether they are residents, non-residents or foreigners. In the following article we will know everything related to the income tax return for foreign residents in Colombia. Income tax return … Read more
The unions are looking for the minimum wage for the following year to reach one million pesos, which would mean an increase of around 15%. Anif recommends that it should be less than 6%: around 2% or 3%. Below, we present the figures that are being handled by the different sectors. Although formal discussions on … Read more
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