As the increase in the CPI for the period 2018 to 2019 has been defined, the value of the UVT for 2020 can already be estimated. In addition, according to Law 1955 of 2019, as from January 1 of next year, penalties and fines currently expressed in minimum wages must be restated in UVT. The … Read more
The president, Iván Duque, announced a series of measures included in the tax reform which was filed by the executive. Among them are: three days without VAT per year, VAT refund to the most vulnerable, reduction of health contributions for pensioners and work incentives for young people. Before the media, Duque said: “One of the … Read more
Through Bulletin 46, the Ministry of Finance announced the filing of the report for the first debate of the tax reform bill “Economic Growth Law”. This text includes specific measures that, according to the Government, would help both the middle class and the most vulnerable. “The Ministry of Finance announced the filing of the report … Read more
The 2019 tax reform proposal contemplates the creation of a sales tax -VAT- compensation mechanism in favor of the most vulnerable population. Upon reviewing the regulations, it is evident that such proposal has some structural gaps for its implementation. After the study and discussion of the report presented by the Government on the 2019 tax … Read more
The tax reform bill or Economic Growth Law was approved in the early morning of Friday, December 20. It will now pass to presidential sanction. Learn about the package of measures to which Colombians will have to pay attention as from January 1, 2020. The law has 152 articles and from the Government’s point of … Read more
After failing to reach an agreement between employers and workers in the negotiations, President Iván Duque announced the adjustment of the minimum wage for next year. The Government defined a 6% increase in the minimum wage in Colombia, which means an increase of $49,686. The increase will also be of the same percentage for the … Read more
Those indicated in Article 203 of the Code of Commerce and commercial companies that meet the requirements of paragraph 2 of Article 13 of Law 43 of 1990, must have a statutory auditor. In this editorial we mention the amounts of assets or income that generate such obligation. Commercial companies will have to verify again … Read more
Decrees 2170 of 2017 and 2483 of 2018 introduced new standards that began to apply in 2019, the first impacts of which will be seen in the financial statements for this period. In this editorial we summarize the main changes that you should include in your reports. In the preparation of the 2019 financial statements … Read more
The measure requires compliance with 3 special requirements, which will cause sellers and buyers to face at least 6 major difficulties. In addition, this exemption will require the mandatory use of electronic invoicing and payment through financial channels. Articles 22 to 26 and 160 of Law 2010 of December 27, 2019 established that during the … Read more
Those obliged to keep accounting records, when they comply with the net worth or gross income ceilings established by law, must file their VAT, withholding tax and INC returns signed by a public accountant. Articles 512-6, 602 and 606 of the Tax Statute -ET- establish the cases in which the INC, VAT and withholding tax … Read more
Share your requirement with us