On 22 May 2019, the Colombian tax authority (DIAN) published regulations for the submission of the Local file and Master file, the Transfer pricing (TP) return, and the Country-by-Country (CbC) report notification corresponding to the 2018 tax year or part of the 2019 tax year. The Local file, Master file, Form 120, and the CbC notification for 2018 are due between 9 and 22 July 2019, depending on the last digits of the taxpayer’s tax number (NIT).
Master and Local File:
Under the regulation 000033, Local and Master file must be submitted via the DIAN electronic information service in PDF format consistent with the technical specifications annex to the regulation. The 1729 version 8 format is intended to submit a local file, and the 5231 version 2 format is intended to submit a master file. The previous year, the Local file and the Main file could be presented in one or several PDF files with a maximum size of 10 MB per file, and if any single file exceeds the limit, it should be divided into separate files.
TP Return Form and CbC Report:
Under the regulation 000034, the transfer pricing return Form 120 must be submitted via the DIAN electronic information service. All transaction reporting information is included in sheet 2 of Form 120 and should be submitted in XML format consistent with the technical specifications annex to the regulation. The format 1125 of version 13 is used and CbC notification is also provided as part of form 120. For those companies that are not required to submit form 120, CbC report notification is sent by email to preciostransferencia@dian.gov.co, using the Excel format, presented on the DIAN website.
