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
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
In Colombia, the proposal would allocate close to 40.5 trillion pesos (4% of GDP) to benefit close to 34.5 million Colombians affected by COVID-19. For ECLAC, the basic emergency income should be implemented immediately, with the prospect of remaining in place for a longer period of time. The Economic Commission for Latin America and 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
Tax losses formed in the income tax return of the taxable year 2019 of resident individuals of the ordinary regime cause it to remain open for 5 years. If there is a transfer to SIMPLE during 2020, such losses may not be offset within such regime. According to the scheduling system applicable for the taxable … Read more
The income tax return is a legal and mandatory procedure, which applies to all persons who generate income or have assets in Colombian territory, regardless of whether they are residents, non-residents or foreigners. In the following article we will know everything related to the income tax return for foreign residents in Colombia. Income tax return … Read more
Those who have filed their 2019 tax return liquidating a balance in favor, and have complied with the requirements for it to become final within the 6 months following its filing, may only process the request for refund of the balance in favor before the end of the finality period. The income tax returns for … Read more
Removing some income benefits and having more people declare and contribute to this tax could be another alternative to increase tax collection. According to a Dian report, 18.5% of the fiscal cost of these exemptions comes from income, which represented $17.1 trillion in 2019. This barely represents 1.6 % of GDP and 65 % corresponds … Read more
The national government intends to support the recovery and cash flow of micro and small companies. The Ministry of Finance, through a draft decree, announced that it seeks to postpone the income tax payment deadline, for the taxable year 2020, for micro and small companies in the commerce, industry and tourism sector. The purpose of … Read more
Decree 374 of April 9, 2021 approved that the filing of the tax return shall continue to be made between April 12 and May 7, 2021. However, the payment of the first installment will be due between June 9 and 23, 2021, and the payment of the second installment between November 9 and 23, 2021. … Read more
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