Tax regulations allow VAT generated on sales that are later cancelled, rescinded or terminated by the customer to be deducted from the total balance due for this tax. For accounting purposes, an account can be created to control this value, which will then be transferred to the form. Next, we will answer the following question: … Read more
Decree 957 of June 5, 2019 establishes new criteria to classify micro and small companies, which affect the process of requesting authorization for invoicing numbering and the use of the free electronic invoicing software offered by the Dian. After having announced it through several draft decrees published since late 2016, the Ministry of Commerce, Industry … Read more
The regulations include new means of payment such as credit cards and other credits. Technical and procedural aspects to be taken into account by the collecting entities are regulated. With the purpose of facilitating the payment of national taxes, the Dian modified by means of Resolution 36 of May 31, 2019, the technical specification of … Read more
Tax discounts correspond to those amounts that can be subtracted from the amount assessed as income tax. It is considered that a tax discount is better than an exempt income or an income that does not constitute income or occasional gain because it directly affects the tax payable. “Tax discounts are a mechanism used by … Read more
According to Resolution 000055 of 2016, those obliged to issue invoice or equivalent document shall request the authorization of the numbering in accordance with current regulations. However, not in all cases equivalent documents will require such authorization. Next, we will answer the following question: Is numbering authorization required in the preparation of equivalent documents? According … Read more
Among the tax discounts allowed are those that apply to taxes paid abroad. They consist in that a person with Colombian residence who earns income outside the country and pays taxes on it may deduct the amount paid abroad from the balance payable in Colombia. “The income obtained by the taxpayer abroad will also be … Read more
VAT and withholding tax returns that require the signature of the public accountant, and have been filed without this requirement, may be classified by the Dian as not filed, if this entity detects such irregularity before the respective period of finality. Next, we will answer the following question: What are the tax implications of filing … Read more
Taxpayers who own assets outside the country, who are obliged to file the annual declaration of assets abroad (form 160), and do not comply with such obligation, will be subject to the penalties provided in articles 641 and 643 of the Tax Statute. Next, we will answer the following question: What are the different tax … Read more
On the occasion of Resolution 000030 of April 29, 2019, and taking into account the upcoming deadlines for the implementation of electronic invoicing, below we will address some of the aspects that electronic billers must consider when complying with their obligation. As we have already mentioned in previous editorials, the Dian, through Resolution 000030 of … Read more
The condition of being a resident or non-resident will have different consequences at the time of preparing the income tax return of a natural person; among them, the type of information to be reported and the form to be used. Article 10 of the Tax Statute -ET- indicates the conditions that must be taken into … Read more
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