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
In 2018, inflation or cost of living for Colombians registered a variation of 3.18 % compared to 2017, approaching the Bank of the Republic’s target of 3 %. Four groups were above the national average: education (6.38 %), health (4.33 %), housing (4.13 %) and transportation (3.73 %). The rest of the expenditure groups were … Read more
The Financing Law repealed Articles 430 and 446 of the ET, and amended Article 475 establishing that as of March 1, 2019 VAT on such beverages will be charged on a multiphase basis; the liability will no longer be solely on the head of the producer or importer. The Financing Law, 1943 of 2018, made … Read more
To calculate the value of the presumptive yields during 2019, a rate of 4.54% must be applied. The figure of presumptive interest is regulated in Article 35 of the Tax Statute and applies when companies lend to their partners or shareholders, or when these make loans to the company or corporation in which they own … Read more
Resolution 000002 of January 3, 2019 establishes that, for now, those obliged to invoice electronically will be only those who were large taxpayers on February 6, 2018, as well as those who during the last 6 years used the electronic invoicing of Decree 1929 of May 2007. The Dian, in order to comply with the … Read more
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