Households in poverty and extreme poverty levels will be identified through Sisbén. A selection will be made by territorial entities, giving priority to departments and municipalities according to poverty concentration levels, total population and coverage of social programs. Through a draft decree, the Ministry of Finance seeks to regulate the VAT refund mechanism for the … Read more
Through Decree 419 of March 18, 2020, the Ministry of Finance regulated the criteria for the recognition and payment of compensation in favor of the most vulnerable population. This program would start in April, as a measure to mitigate the economic vulnerability of households affected by COVID-19. After having published a draft decree through which … Read more
In the midst of the economic slowdown generated by COVID-19, it was established that applicants that are not qualified as high risk will be refunded in only 15 days. The Dian continues without prescribing the forms 210 and the one corresponding to the annual SIMPLE return. On April 10, 2020, the National Government, under the … Read more
The three VAT-free days will take effect on June 19, July 3 and July 19 of this year. Commercial premises that remain closed during the isolation will be excluded from VAT. The consumption tax, which is 8% of the service, will be suspended. On May 18, 2020, President Iván Duque, together with the director of … Read more
By means of Legislative Decree 682 of May 21, 2020, the Ministry of Finance established the VAT exemption for certain movable tangible goods that are sold within the national territory. The three days without VAT will take place between June and July of the current year. Through Legislative Decree 682, issued by the Ministry of … Read more
With Legislative Decree 789 of June 4, 2020, the Ministry of Finance adopted transitory tax measures on the exclusion and exemption of VAT for certain economic activities. The above, in order to promote the Colombian economic reactivation after the crisis generated by COVID-19. As a consequence of the current economic crisis faced by the country … Read more
The Minister of Finance, Alberto Carrasquilla, recently stated in Dinero that the Tax Statute -ET- must be modified and that the country’s tax issues must begin to be discussed next year as part of the strategy to achieve economic recovery. “Colombia must stop having a ‘poor country’ Tax Statute, since the rebound of the economy … Read more
For Alejandro Chacón, the current VAT rate, which is 19%, should be reduced to 8%. This would not affect tax collection. Representative Alejandro Chacón has made a series of proposals regarding the tax reform. The first one is to replace the VAT with the consumption tax, an idea he had formulated in the debates of … Read more
The President issued orders for the non-inclusion of basic foodstuffs such as meat, chicken, eggs and milk. He emphasized his responsibility to move forward with the reform. In an interview with El Tiempo, President Iván Duque stated that the tax reform will not impose VAT on products of the family basket. He also said that … Read more
The Government has said that this refund corrects an injustice such as charging the same rate to the highest income households and the most vulnerable. The director of the National Planning Department -DNP-, Luis Alberto Rodríguez, highlighted the progress made by the Government in terms of VAT refund and assured that, as of April, two … Read more
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