Exogenous: Penalties for not sending this report.

Regarding the assumption of the reporting of exogenous information as a formal tax obligation, the Dian has the power to impose penalties for not sending the same up to three years after the expiration of the deadline for its submission, in accordance with the provisions of article 638 of the ET.

Next we will provide an answer to the following question: if a company has not made the submission of the exogenous information from 2016 onwards, can such submission be made in 2019 and pay the corresponding penalty?

Taking into account that article 638 of the Tax Statute -ET- empowers the Dian to punish non-compliance with formal tax obligations up to three years after its expiration, the exogenous information for the taxable year 2016 that was due in 2017 may be required by the Dian until 2020. However, the obligor may submit such information in an untimely manner, understanding that the Dian may apply a penalty for failure to timely submit the same, a penalty contemplated in article 651 of the ET, which could be up to 15,000 UVT ($514,050,000), according to the percentage of information not provided.

However, the persons or entities that did not submit such report have the possibility to voluntarily remedy this noncompliance before the Dian issues the statement of charges against them, settling themselves the aforementioned penalty, but with the possibility of reducing it to 20%; this must be paid through form 490 with the concept “71 – Penalty paragraph article 651 of the ET”.

Additionally, the reduction of article 640 of the ET may be applied to this already reduced penalty, article in which it is established that the penalties liquidated by taxpayers, withholding agents, responsible parties or declarants may be reduced to 50% or 75%, provided that the interested party complies with the requirements set forth in the regulations in question.

Source: Actualícese