Tax calendar: draft for 2019

The Ministry of Finance and Public Credit issued the draft tax calendar for 2019, by means of which Decree 1625 of 2016 on tax matters would be amended, in order to substitute and add articles in order to establish the deadlines to declare and pay in the following year.

The Ministry of Finance and Public Credit issued last September 21 a draft decree of tax calendar 2019, by which Decree 1625 of 2016 on tax matters is amended to replace and add some articles of section 2 of chapter 13, title 1, part 6 of book 1, and establish the deadlines for declaring and paying national taxes in 2019, as well as other provisions referring to the specific subject are also ruled.

Now, through article 1.6.1.1.13.2.1 of section 2 referring to the deadlines to file and pay in 2019, it is established that the filing of lithographic returns of income tax and complementary taxes, income and wealth, sales tax, national consumption tax, single tax, withholding at source and self-withholdings shall be made over the counter at banks and other entities authorized to collect, except for those taxpayers and responsible parties obliged to file virtually, who shall file it through electronic computer services.

National gasoline and ACPM tax returns, tax on financial movements, annual declaration of assets abroad, income tax return due to change of ownership of foreign investment, transfer pricing information and national carbon tax must be filed virtually through electronic services.

Correction of returns

In the case of correction of returns, the inconsistency framed in article 580 of the ET may be corrected through the procedure provided in article 588 of the ET, as long as the penalty for not filing has not been notified, settling a penalty equivalent to 2% of the penalty for untimeliness provided in article 641 of the ET, without exceeding 1,300 UVT.

Form and content of the returns

The declarations of income tax and complementary tax, single tax, income and wealth, change of ownership of foreign investment, sales tax, gasoline and ACPM, national consumption tax, withholding tax, annual declaration of assets abroad, tax on financial movements, informative of transfer prices and national carbon tax, must be filed in the official forms indicated by the Dian, through electronic or documentary computer services.

“The declaration of such taxes must be signed by the taxpayers or those directly responsible for the payment of the tax, either personally or through their representatives”.

The declaration of such taxes must be signed by the taxpayers or those directly responsible for the payment of the tax, either personally or through their representatives, according to article 572 of the ET; or given the case, by the administrator of the respective patrimony.

In the case of managers, administrators and, in general, the legal representatives of legal persons and de facto companies, this responsibility may be delegated to officials of the company designated for this purpose, in which case the Sectional Directorate of Taxes and Customs or the corresponding sectional tax directorate must be informed of this fact. Additionally, this may also be signed by the general attorneys-in-fact and special agents who are not lawyers and the respective payer or whoever takes their place, when the withholding declarant is the nation, departments, municipalities, the Capital District of Bogota and other territorial entities.

Income tax and complementary taxes

All taxpayers subject to such tax shall be obliged to file an income tax return for the taxable year 2018, understanding that the compensation funds are also taxpayers with respect to the income generated in industrial, commercial and financial activities other than the investment of their equity, different from those related to the meritorious activities provided for in article 359 of the ET.

Likewise, it should be noted that the following taxpayers will not be required to file income tax returns for the taxable period 2018:

1. salaried employees who are not liable for sales tax under the common regime, whose gross income comes at least 80% from payments originating from an employment or legal and regulatory relationship, without these including income from retirement, old age, disability and death pensions; as well as natural persons and illiquid successions resident in the country, provided that in relation to the taxable year 2018:

–Theirgross net worth does not exceed 4,500 UVT ($149,202,000).

–Theirgross income is less than 1,400 UVT ($46,418,000), for which all income from any economic activity must be added together, regardless of the identification number to which they belong.

–Theconsumption by credit card does not exceed 1,400 UVT ($46,418,000).

–Thetotal value of purchases and consumptions does not exceed 1,400 UVT ($46,418,000).

–Theaccumulated value of bank consignments, deposits or financial investments does not exceed 1,400 UVT ($46,418,000).

2. Foreign individuals or legal entities without residence or domicile in the country, when the totality of their income has been subject to the withholding at source addressed in articles 407 to 411 of the ET. In addition, they will not be taxpayers, provided that the factual assumptions established in articles 20-1 and 20-2 of the ET, related to the establishment of permanence, are not configured.

3. Individuals who belong to the single taxpayer.

4. The voluntary declaration of income tax payable by taxpayers not obliged to declare, being this the result of adding the withholdings at the source for any concept that must be applied to the payments or credits on account, made by the taxpayer during the taxable period.

In the case of resident individuals to whom withholdings at the source have been made, and who in accordance with the provisions of the Tax Statute are not obliged to file an income tax return, they may file it, for which it shall produce legal effects.

“In order to establish the basis for the calculation of the income tax, the income from occasional gains shall not be included, and therefore this complementary tax shall be determined independently”.

It is to be noted that, in order to establish the basis for the calculation of income tax, income from occasional gains shall not be included, so this complementary tax shall be determined independently. In addition, taxpayers must keep in their possession the withholding at source certificates issued by the withholding agents, and exhibit them when required by the Dian.

Source: Actualize