On 17 December 2020, the Colombian Ministry of Finance and Public Credit has issued Decree 1680 specifying the deadlines for filing and payment of the tax return (declaration) in 2021 and the deadline for transfer pricing (TP) documentation, including local/master file and CbC reports. Some of the key deadlines for companies depend on the last digits of the taxpayer’s tax number (NIT).
For large taxpayers, the 1st income tax payment deadline is between 9 February and 22 February 2021, the return and 2nd payment deadline is between 12 April and 23 April 2021, and the 3rd payment deadline is between 9 June and 23 June 2021. For other taxpayers, the return and initial payment deadline is between 12 April and 7 May 2021, and the second payment deadline is between 9 June and 23 June 2021.
The deadline for the return of foreign assets is: (i) for large taxpayers from 12 April to 23 April 2021, and (ii) for other taxpayers from 12 April to 7 May 2021.
The deadline for informative transfer pricing returns and Local files (if applicable) is 7 September to 20 September 2021. The deadline for CbC reports and Master file (if applicable) is 10 December to 23 December 2021.
