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COVID-19: Temporary Corporate Insolvency Proceeding

Decree Law 560 of 2020 explains a series of special transitional measures regarding corporate insolvency. The measures will be in force for two years and are based on four pillars, which are explained below. Among the most recent measures taken by the national government is the issuance of Decree Law 560 of April 15, 2020, … Read more

COVID-19: Insolvency Tax Benefits

Through Legislative Decree 560 of 2020, the Ministry of Commerce adopted transitory measures regarding the insolvency regime. The aforementioned, with the purpose of mitigating the economic effects derived from the spread of COVID-19, seeking business recovery and preservation. The Ministry of Commerce, Industry and Tourism, through Legislative Decree 560 of April 15, 2020, adopted transitory … Read more

Tax breaks for insolvent companies

The Dian will apply reductions of penalties, interest and capital on tax obligations administered by the entity that are in charge of companies affected by COVID-19. Decree 939 of 2021, which regulates the benefit, establishes different options of terms and amounts. Decree 939 of August 19, 2021, which partially regulates Legislative Decree 560 of 2020, … Read more