Article 49 of Law 1955 of May 25, 2019 (PND for the 2018 to 2022 term) provided that as of January 1, 2020 all fines, fees, tariffs, penalties and stamps that are currently expressed in terms of current legal monthly minimum wages -smmlv- (case, for example, of traffic fines, penalties of the Criminal Code and … Read more
The 2019 tax reform proposal contemplates the creation of a sales tax -VAT- compensation mechanism in favor of the most vulnerable population. Upon reviewing the regulations, it is evident that such proposal has some structural gaps for its implementation. After the study and discussion of the report presented by the Government on the 2019 tax … Read more
The first installment of income tax for large taxpayers will be paid between February 11 and 24, 2020. Declaration and payment of withholding tax will also begin in February. In March, the bimonthly VAT payment will begin. Through Decree 2345 of 2019, the Ministry of Finance modified DUR 1625 of 2016 and established the deadlines … Read more
The Dian regulated the tax deadlines set in the Growth Law and included the changes made due to the coronavirus pandemic and its effect on several industries. Due to the spread of the coronavirus in Colombia, the National Tax and Customs Directorate (Dian) gave the go-ahead to change some dates for tax returns and payment … Read more
The Ministry of Labor adopted measures to mitigate the economic impact of the sanitary emergency on workers’ income, authorizing the partial withdrawal of severance payments and reinforcing the mechanism for the protection of the unemployed. It also establishes provisions related to the granting of vacations. In view of the state of emergency currently faced by … Read more
For the remainder of 2020, it is important that taxpayers of the different national taxes are attentive to the deadlines of their pending tax obligations. Otherwise, they may be exposed to tax penalties. Each year, the National Government issues a decree through which it establishes the deadlines in which taxpayers of the different national taxes … Read more
Rules must be established to determine whether or not other taxes on digital services will be assessed. New exemptions must be tested to stimulate demand and it is stated that the tax on digital platforms is in default of implementation. Digital platforms pay two taxes in Colombia: VAT and reteica. The fact that our country … Read more
It is necessary to raise the property tax rate in order to increase revenue collection by territorial entities. It is appropriate to tax income generated in Colombia by digital platforms. A tax on sugary and sweetened beverages and ultra-processed foods is a necessary measure. The national government has begun to uncover its cards on the … Read more
The new president of Colombia, Iván Duque, has said that he sees no sense in giving the green light to the project that seeks to eliminate the three zeros from the national currency. For him it is costly and unnecessary. Asobancaria bets more on accelerating the process of implementing a new family of banknotes. Last … 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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