Through Decree 608 of April 8, 2019, the Ministry of Finance established the deadlines to make the declaration and payment of the wealth tax and the complementary tax normalization tax, created through Articles 35 and 42 of the Financing Law 1943 of 2018. As we have already mentioned in previous editorials, the Government, based on … Read more
About 7,000 taxpayers will have to start paying the wealth tax as from May 9, according to the schedule established by the Dian. The tax is effective for Colombians who have a net worth of more than 5,000 million pesos with a rate of 1%, as approved in the Financing Law. It is worth remembering … Read more
Article 295-2 of the ET, modified with Article 37 of Law 1943 of 2018, mentions the values of the assets that may be subtracted in the calculation of the taxable base of the wealth tax from 2019 to 2021. However, shares or quotas in domestic companies may not be subtracted. Articles 35 to 41 of … Read more
VAT and withholding tax returns that require the signature of the public accountant, and have been filed without this requirement, may be classified by the Dian as not filed, if this entity detects such irregularity before the respective period of finality. Next, we will answer the following question: What are the tax implications of filing … Read more
Last September 26, 2019 and until next October 9 are the due dates for the payment of the second installment of the wealth tax. This was created with the Financing Law and applies to individuals who as of January 1, 2019 had a net worth of more than $5,000 million, with a rate of 1% … Read more
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
If the 2020 income is decreasing, articles 808 to 810 of the ET and Dian Circular 044 of June 2009 contemplate the possibility that taxpayers who, at the close of 2019 were in the ordinary regime, may decrease their advance payment to the taxable year 2020 tax. These days, the vast majority of taxpayers of … Read more
Decree 401 of 2020 established the deadlines in which the payment of the wealth tax corresponding to 2020 must be made. The foregoing, in accordance with the provisions of Article 292-2 of the Tax Statute, as amended by Article 43 of Law 2010 of 2019. As from the amendments made to article 292-2 of the … Read more
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
Individuals and legal entities that paid the 2020 wealth tax are also liable for the tax in 2021. The base will be the taxable liquid patrimony they own on January 1, 2021, but limited by a special comparison with respect to the 2020 base. Articles 43 to 49 of Law 2010 of December 2019 modified … Read more
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