Regarding the assumption of the reporting of exogenous information as a formal tax obligation, the Dian has the power to impose penalties for not sending the same up to three years after the expiration of the deadline for its submission, in accordance with the provisions of article 638 of the ET. Next we will provide … Read more
Taxpayers who own assets outside the country, who are obliged to file the annual declaration of assets abroad (form 160), and do not comply with such obligation, will be subject to the penalties provided in articles 641 and 643 of the Tax Statute. Next, we will answer the following question: What are the different tax … Read more
When the exogenous information report is not submitted within the established deadlines, is submitted with errors or does not correspond to what was requested, the penalties set forth in article 651 of the ET will be applied. However, in certain cases these penalties may be reduced. In relation to what is set forth in article … Read more
Non-compliance with the formal and substantial obligations of taxpayers entails a series of sanctions by the tax administration, with the purpose of complying with numeral 9 of article 95 of the Political Constitution, which establishes that among the obligations of Colombians is to contribute to the financing of the expenses of the State within the … Read more
The tax penalty regime contemplates different types of penalties for each of the obligations administered by the Dian. On this occasion we address the tax penalties to which withholding agents authorized by law may be exposed. Those individuals or legal entities authorized by law to act as withholding agents must comply with the obligations set … Read more
According to Resolution 000042 of 2020, those subjects indicated in article 6 of the mentioned resolution will be obliged to issue electronic sales invoices. Those who are obliged and omit this responsibility will be exposed to certain penalties contemplated in the Tax Statute. If a person obliged to invoice electronically does not issue the respective … Read more
If you file your income tax return after your due date, you will have to pay a penalty for late filing, known as extemporaneous filing penalty. This penalty is equivalent to 5% of your tax liability and increases with each month or fraction of a month that passes between the due date and the date … Read more
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