By means of Resolution 000111 of December 11, 2020, the Special Administrative Unit of the National Tax and Customs Directorate (DIAN), announced the value of the UVT applicable in 2021, which remained at $36,308. Let us remember that the Tax Statute in its article 868 establishes the Tax Value Unit (UVT) as the measure of … Read more
Devaluation is the decrease in the value of the national currency with respect to some foreign currencies. In this publication you will learn about the devaluation of the Colombian peso during the year 2020. In the technical language of macroeconomics it is reiterative to speak of two terms: devaluation and revaluation; such concepts refer to … Read more
Non-compliance with the formal and substantial obligations of taxpayers entails a series of sanctions by the tax administration, with the purpose of complying with numeral 9 of article 95 of the Political Constitution, which establishes that among the obligations of Colombians is to contribute to the financing of the expenses of the State within the … Read more
For Alejandro Chacón, the current VAT rate, which is 19%, should be reduced to 8%. This would not affect tax collection. Representative Alejandro Chacón has made a series of proposals regarding the tax reform. The first one is to replace the VAT with the consumption tax, an idea he had formulated in the debates of … Read more
In Colombia, the tax auditors are required to be those indicated in article 203 of the Code of Commerce and the commercial companies that reach the ceilings of assets and income mentioned in paragraph 2 of article 13 of Law 43 of 1990. See more details below. Commercial companies will have to verify the value … Read more
While President Iván Duque assures that this is not yet the time to present a tax reform, the Minister of Finance thinks otherwise. The tax reform would not be presented during the first quarter of the year. The President of Colombia, Iván Duque, has said that he considers that in the middle of the pandemic … Read more
The tax penalty regime contemplates different types of penalties for each of the obligations administered by the Dian. On this occasion we address the tax penalties to which withholding agents authorized by law may be exposed. Those individuals or legal entities authorized by law to act as withholding agents must comply with the obligations set … Read more
Find out the main details related to the registration, update and cancellation of the RUT. Remember that this document allows you to know, among other aspects, the novelties stipulated by the Dian regarding the RUT in 2021. Pensioners who file income tax returns will have to update the RUT The reason why pensioners who file … Read more
For many, the exemptions available to companies should be reviewed and redesigned. They also add that the Government is thinking of solutions that imply less effort, and one of them is the VAT on the family basket. It is expected that in the first semester the tax reform will be debated. Fiscal and social reform; … Read more
According to Resolution 000042 of 2020, those subjects indicated in article 6 of the mentioned resolution will be obliged to issue electronic sales invoices. Those who are obliged and omit this responsibility will be exposed to certain penalties contemplated in the Tax Statute. If a person obliged to invoice electronically does not issue the respective … Read more
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