What taxes will Colombians pay this year?

The first installment of income tax for large taxpayers will be paid between February 11 and 24, 2020. Declaration and payment of withholding tax will also begin in February.

In March, the bimonthly VAT payment will begin. Through Decree 2345 of 2019, the Ministry of Finance modified DUR 1625 of 2016 and established the deadlines to declare and pay taxes this 2020. Among the most relevant deadlines established in the decree are:

Income tax

Large taxpayers must file the income and complementary tax return for the taxable year 2019 and cancel the total value of the tax payable in three installments, according to the last number of the NIT:

–First installment: between February 11 and 24, 2020.

–Second installment: between April 14 and 27, 2020.

–Third installment: Between June 9 and June 24, 2020.

Legal entities and other taxpayers, companies and similar, taxpayers of the special tax regime other than those qualified as large taxpayers and entities of the cooperative sector, according to the last two digits of the NIT, shall comply with this obligation as follows:

– Filing and payment ofthe first installment between April 14 and May 12, 2020.

For individuals and unliquidated successions, the due dates will be according to the last two digits of the NIT, starting on August 11 and ending on October 21, 2020. Individuals residing abroad must file their return electronically and within the same deadlines indicated herein:

Updating and filing economic memory special tax regime – RTE.

Taxpayers that are part of the special tax regime -RTE-, as well as cooperatives, have the obligation to update the web registry referred to in article 364-5 of the ET, no later than March 31, 2020. Those who are obliged to do the update and its respective submission, will become taxpayers of the income tax and complementary tax of the ordinary regime for the taxable year 2020 and will have to update the RUT.

Annual declaration of assets abroad, according to type of declarant

–Largetaxpayers: between April 14 and 27, 2020, according to the last digit of the NIT.

– Legalentities: between April 14 and May 12, 2020, according to the last two digits of the NIT.

–Individuals: between August 11 and October 21, 2020, according to the last two digits of the NIT.

Transfer Pricing Information Statement

The deadlines to file the transfer pricing information return virtually will be between July 7 and July 21, 2020, according to the last digit of the NIT.

For the taxable year 2019, taxpayers of income tax and complementary tax must file this return:

–Obligedto the application of the rules that regulate the transfer pricing regime.

–Enteringinto transactions with related parties or with individuals, corporations, entities or companies located, resident or domiciled in non-cooperating jurisdictions, low or no taxation and preferential tax regimes.

VAT

Bimonthly declaration and payment

Those responsible for this tax, large taxpayers and those legal entities and individuals whose gross income as of December 31 of the taxable year 2019, are equal to or greater than 92,000 UVT ($3,152,840,000) as well as those responsible under articles 477 and 481 of the ET, must file the sales tax return and pay on a bimonthly basis, depending on the last digit of the NIT.

The due dates for bimonthly return and payment in 2020 will be:

–Firstbimonthly: between March 10 and March 24.

–Secondbimonthly period: between May 12 and 26.

–Third two-month period: between July 7 and 21.

–Fourthtwo-month period: between September 8 and 21.

–Fifth two-month period: between November 10 and 24.

–Sixthtwo-month period between January 13 and 26, 2021.

Service providers from abroad Regardless of the last digit of the NIT, the bimonthly VAT deadline for these taxpayers is:

–First bimonthly: March 13.

–Second bimonthly: May 15.

–Thirdbimester: July 17.

–Fourthbimester: September 17.

–Fifthbimester: November 18.

–Sixthbimester: January 15, 2021.

Four-monthly declaration and payment

Those responsible for this tax, legal entities and individuals whose gross income as of December 31 of the taxable year 2019 is less than 92,000 UVT ($3,152,840,000), must file the VAT return and pay on a four-monthly basis. The due dates are:

– Firstfour-month period: between May 12 and 26.

– Secondfour-month period: between September 8 and 21.

– Third four-month period: between January 13 and 26, 2021.

National excise tax

Those responsible for this tax must file and pay the tax return on a bimonthly basis, in the same periods and dates established for VAT.

Declaration and payment of withholding tax at source

The withholding agents of income and complementary tax and/or stamp tax, and/or VAT, and/or contribution for arbitration awards, as well as the self-withholders of income and complementary tax must declare and pay the withholdings and self-withholdings made in each month, depending on the last digit of the NIT.

–January: between February 11 and 24, 2020.

–February: between March 10 and 24, 2020.

–March: between April 14 and 27, 2020.

–April: between May 12 and 26, 2020.

–May: between June 9 and 24, 2020.

–June: between July 7 and 21, 2020.

–July: between August 11 and 25, 2020.

–August: between September 8 and 21, 2020.

–September: between October 6 and 20, 2020.

–October: between November 10 and 24, 2020.

–November: between December 10 and 23, 2020.

–December: between January 13 and 26, 2021.

Unified tax simple taxation regime -RST-.

Individuals and legal entities that have registered as taxpayers of the RST for the taxable period 2019, must file the consolidated annual return and pay the tax corresponding to the taxable year 2019 according to the last digit of the NIT, between October 22 and 28, 2020.

Taxpayers registered in the RST responsible for VAT, shall file the consolidated annual VAT return corresponding to the taxable year 2019, according to the last digit of the NIT, between February 24 and 28, 2020.

Source: Actualize