On April 9, the deadlines for large taxpayers and other legal entities responsible for income tax and complementary taxes to file the annual declaration of assets held abroad as of January 1 of that year began. The annual declaration of assets held abroad, created through articles 42 and 43 of Law 1739 of 2014, and … Read more
Among the tax discounts allowed are those that apply to taxes paid abroad. They consist in that a person with Colombian residence who earns income outside the country and pays taxes on it may deduct the amount paid abroad from the balance payable in Colombia. “The income obtained by the taxpayer abroad will also be … Read more
Taxpayers who own assets outside the country, who are obliged to file the annual declaration of assets abroad (form 160), and do not comply with such obligation, will be subject to the penalties provided in articles 641 and 643 of the Tax Statute. Next, we will answer the following question: What are the different tax … Read more
Service providers from abroad that render services to persons or companies located in Colombia are considered liable for VAT as long as the services are taxed with such tax. These service providers are not obliged to issue an invoice. In the following video, our speaker Diego Guevara Madrid, prominent tax expert and leader of tax … Read more
Between August 9 and October 19, 2018, the deadlines for individuals to file the declaration of assets abroad and income tax return in a timely manner expire. With the tax reform, changes were introduced to the penalties applicable to the first type of return. The structural tax reform did not make changes on article 607 … Read more
The beginning of the deadlines for filing the income tax return of individuals in Colombia is approaching, and many foreigners and Colombians living abroad must also comply with this obligation, provided that they meet certain requirements. The obligation to file the income tax return as a natural person falls on all those who have generated … Read more
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