The director of the DIAN explained a series of points included in the financing bill presented on October 31. He talks about the gradual reduction of VAT and the VAT refund, as well as the novelties of the income tax for companies and individuals. The National Government presented on October 31, 2018, before the Congress … Read more
The 87 articles of the Finance Bill filed on October 31, 2018 would end up affecting 164 rules of the ET and 19 additional rules. In several of the proposals raised therein, important deficiencies can be detected that must be corrected by Congress during its processing. Complying with the eternal custom of the most recent … Read more
Article 7 of the financing bill intends to add numeral 4 to Article 437-2 of the ET to revive the withholding of VAT assumed to the simplified regime. In addition, it would repeal Article 485-1 of the ET, to prevent the withholding agent from taking the assumed withholding as deductible VAT. Among the multiple changes … Read more
The Financing Law repealed Articles 430 and 446 of the ET, and amended Article 475 establishing that as of March 1, 2019 VAT on such beverages will be charged on a multiphase basis; the liability will no longer be solely on the head of the producer or importer. The Financing Law, 1943 of 2018, made … Read more
On December 28, 2018, President Ivan Duque signed Financing Law 1943, which includes, among other things, four new national taxes intended to solve the national budget deficit. In this editorial we address the most important aspects of each of them. According to statements made by the Minister of Finance, Alberto Carrasquilla, the new tax reform … Read more
Several tax experts expressed their points of view on the Financing Law. They highlighted the doubts they have about this law and several negative points they see. The former Minister of Finance, Guillermo Perry, stated that in terms of companies, the Financing Law was negative because tax exemptions and privileges were maintained and increased in … Read more
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