The director of the Dian, José Andrés Romero, catalogued the results of the monotributo as a failure, since out of the 500,000 possible beneficiaries, only 12 beneficiaries have complied with the requirements. “The monotributo did not work. We are going to remove it and create a simple regime that serves small and medium-sized companies in … Read more
Entities under the special regime may deduct expenses for any type of national or territorial tax, in accordance with article 1.2.1.1.5.1.21 of DUT 1625 of 2016, after being modified with Decree 2150 of 2017 and ratified by the answer to question 4.47 of Unified Concept 481 of 2018. Non-profit foundations, corporations and associations, as well … 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
The general director of the Dian, José Romero, published on March 7, 2019 a draft resolution announcing 7 last minute modifications regarding the exogenous information for the taxable year 2018, the delivery of which will start to be due on April 23, 2019. Following the same custom of the previous directors of the Dian (which … Read more
Articles 815 and 850 of the ET indicate the conditions under which a credit balance is compensable or may be requested as a refund. However, these do not include the possibility that balances generated in excess of deductible VAT over the VAT generated, and which were caused at the same rate, may be requested as … Read more
Although Resolution 000060 of 2017 was modified by Resolution 000045 of 2018, the deadlines for submitting the exogenous information for the taxable year 2018 remain the same, between April and June 2019 the obligated parties must submit this report. In this editorial we expose the deadlines in detail. The exogenous information for the taxable year … Read more
Individuals belonging to the ordinary regime will obtain a gross income from the sale of their real estate, which must be reported at the end of the year in the income tax return, if the total income of the year exceeds the amount corresponding to 1,400 UVT. Next, we will answer the following question: If … 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
When individuals (residents and non-residents) are required to keep accounting records, at least for tax purposes, and at the same time meet the criteria of Article 596 of the ET, they must file their income tax return for the taxable year 2018 accompanied by the signature of an accountant. The rule contained in the second … Read more
Individuals who for the taxable year 2018 are obliged to file the income tax return and supplementary return must report in this return the net worth value of the different assets and liabilities under their charge, whether they are held in the country or abroad. The expression “net worth value” refers to the amount for … Read more
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