One of the most awaited seasons by accounting professionals is approaching, since as of August 11, 2020, the deadlines for filing the income tax return of individuals for the 2019 period begin. In compliance with the tax obligation that corresponds to natural persons in relation to income tax, they must resort to the schedular model … Read more
Measures for better tax collection are urgent because the 2008 crisis made it clear that tax evasion by the wealthy is immense. Tax avoidance has left governments with fewer resources to meet the critical priorities left by the pandemic. The Independent Commission on International Corporate Tax Reform – ICRICT – proposes in its report The … Read more
For the taxable year 2019, individuals and unliquidated successions, with the exception of those indicated in article 1.6.1.1.13.2.7. of Decree 2345 of December 23, 2019, as well as assets destined for special purposes by virtue of donations and modal allocations, whose donees or assignees do not personally usufruct them, and non-resident individuals who obtain income … Read more
As of August 11, 2020, the deadlines for filing income tax returns corresponding to the taxable year 2019 by individuals and unliquidated successions in Colombia begin. But who is obliged to file this return? All individuals and illiquid successions that meet any of the following conditions must file income tax returns for the taxable year … Read more
Tax losses formed in the income tax return of the taxable year 2019 of resident individuals of the ordinary regime cause it to remain open for 5 years. If there is a transfer to SIMPLE during 2020, such losses may not be offset within such regime. According to the scheduling system applicable for the taxable … Read more
The income tax return is a legal and mandatory procedure, which applies to all persons who generate income or have assets in Colombian territory, regardless of whether they are residents, non-residents or foreigners. In the following article we will know everything related to the income tax return for foreign residents in Colombia. Income tax return … Read more
Those who have filed their 2019 tax return liquidating a balance in favor, and have complied with the requirements for it to become final within the 6 months following its filing, may only process the request for refund of the balance in favor before the end of the finality period. The income tax returns for … Read more
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