Several tax experts expressed their points of view on the Financing Law. They highlighted the doubts they have about this law and several negative points they see. The former Minister of Finance, Guillermo Perry, stated that in terms of companies, the Financing Law was negative because tax exemptions and privileges were maintained and increased in … Read more
The rule regulates articles 42 to 49 of Law 1943 of 2018, currently sued before the Constitutional Court, which allow making a new normalization and/or tax reorganization with the assets and/or liabilities of the taxpayers of the ordinary regime before September 25, 2019. Last May 20, 2019, the Ministry of Finance issued its Decree 874, … 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
The condition of being a resident or non-resident will have different consequences at the time of preparing the income tax return of a natural person; among them, the type of information to be reported and the form to be used. Article 10 of the Tax Statute -ET- indicates the conditions that must be taken into … Read more
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 president, Iván Duque, announced a series of measures included in the tax reform which was filed by the executive. Among them are: three days without VAT per year, VAT refund to the most vulnerable, reduction of health contributions for pensioners and work incentives for young people. Before the media, Duque said: “One of the … Read more
Through Bulletin 46, the Ministry of Finance announced the filing of the report for the first debate of the tax reform bill “Economic Growth Law”. This text includes specific measures that, according to the Government, would help both the middle class and the most vulnerable. “The Ministry of Finance announced the filing of the report … 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 tax reform bill or Economic Growth Law was approved in the early morning of Friday, December 20. It will now pass to presidential sanction. Learn about the package of measures to which Colombians will have to pay attention as from January 1, 2020. The law has 152 articles and from the Government’s point of … Read more
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
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