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Article 644 of the tax statute, which regulates the aspects related to the penalty for correction of tax returns, was modified the first numeral by Article 285 of the Structural Tax Reform Law 1819 of 2016, this now contemplates the possibility of correcting the return before the expiration of the deadline for its presentation without … Read more

Fedesarrollo believes that the Government will seek to raise the minimum between 20% and 25%. The director of Fedesarrollo said that inflation would lead to these new minimum wage levels. The increase of 10.07% was the last increase in the minimum wage set by then President Iván Duque in December last year, at a time … Read more

The new tax reform bill, tax experts, public accountants and economists have taken on the task of analyzing and giving their opinion on the subject. Which individuals will feel the biggest blow according to the tax reform bill? The tax reform project seeks to equalize the tax treatment of individuals in Colombia, as well as … Read more

Taxpayers who in their income tax returns have liquidated a balance in favor may request a refund from the Dian. The period of validity of such return once the request for refund has been filed must be taken into account. The second paragraph of article 714 of the Tax Statute -ET- states that the tax … Read more

At the time of filing the income tax return it is important to consider some aspects related to inconsistencies that may arise in the filing or with special treatments that some returns must have: Incorrectly registered economic activity code According to article 43 of Law 962 of 2005 and Circular 00118 of 2005, errors related … Read more

Individuals have different tax obligations that must be filed with the Dian. One of the main ones is the income tax return for the taxable year 2021. This, according to Decree 1778 of 2021, must be filed between August 9 and October 19, 2022 according to the last two digits of the NIT. In other … Read more

Once the income tax return is filed, it will take a period of 3 or 5 years to become final before the Dian or 6 or 12 months if the audit benefit is granted. This is a legal condition with which the return can no longer be modified by the tax administration or the taxpayer. … Read more

At the Ministry of Labor, the first meeting of the labor and wage policy negotiation table, in which employers, labor unions and the National Government will participate in order to define next year’s minimum wage, was held at the Ministry of Labor. Although a first formal proposal for the adjustment of the minimum wage was … Read more

The National Administrative Department of Statistics (DANE) released the inflation figure for the month of October with 12.22%. For this month of October, the highest price variations were recorded in food and non-alcoholic beverages, which for October 2021 was negative, -0.06%; in October 2022 the variation was 26.17 times higher than this figure. Likewise, the … Read more

According to article 868 of the Tax Statute, the tax value unit (UVT) is the measure of value that allows adjusting the values contained in the provisions related to taxes and obligations administered by the Dian. Said value is readjusted annually according to the variation of the consumer price index -CPI- for average income, certified … Read more