If you were waiting for December to arrive to take advantage of the VAT-Free Day and use that thing you were missing, stop doing it, because the government would have put an immediate end to this figure. According to what was known and confirmed by the Minister of Finance, José Antonio Ocampo on Tuesday afternoon, … Read more
On October 24, 2022, the Dian issued Circular 000007, by means of which it established measures to prevent electronic billers from demanding from the purchasers of goods and/or services, additional requirements to those contemplated in the law and in the regulations issued by the Dian for the generation and issuance of the electronic sales invoice … Read more
On Thursday, December 15, 2022, President Gustavo Petro announced the new rules that will apply as from 2023, regarding the minimum wage in the country and the transportation allowance. Said norm established the increase of the minimum salary by 16% with respect to the previous year, i.e. $ 1,160,000. On the other hand, the transportation … Read more
In the last few weeks Colombia has started negotiations to define the minimum wage for 2023. Trade unions, economic associations and the national government are part of the negotiation table. It should be recalled that in order to define the minimum wage, factors such as productivity, GDP, economic growth and inflation must be taken into … Read more
The new president of Colombia, Iván Duque, has said that he sees no sense in giving the green light to the project that seeks to eliminate the three zeros from the national currency. For him it is costly and unnecessary. Asobancaria bets more on accelerating the process of implementing a new family of banknotes. Last … Read more
The accounting treatment of accounts receivable incorporates different principles, including impairment indicators. These give indications that an item should be impaired or not. Among the indicators is that it is probable that the debtor will go bankrupt. We will now answer the following question: What accounting treatment should be applied to the accounts receivable of … Read more
The process of preparing the ESFA should have been carried out at the end of December 31, 2015, in the case of SMEs. In this editorial we mention some consequences of the convergence to International Standards, and what information an entity must disclose about the adjustments in the ESFA. Based on CTCP Concept 145 of … Read more
The national government, through the Ministry of Finance, approved Decree 1951 of 2017, which establishes the conditions for those who must comply with this tax burden. This document, which is available on the website of the Presidency of the Republic, is the update to decree 1625 of 2016. So go prepare your return, because if … Read more
Between August 9 and October 19, 2018, the deadlines for individuals to file the declaration of assets abroad and income tax return in a timely manner expire. With the tax reform, changes were introduced to the penalties applicable to the first type of return. The structural tax reform did not make changes on article 607 … Read more
The beginning of the deadlines for filing the income tax return of individuals in Colombia is approaching, and many foreigners and Colombians living abroad must also comply with this obligation, provided that they meet certain requirements. The obligation to file the income tax return as a natural person falls on all those who have generated … Read more
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