On 3 August 2020, the Colombian tax authority (DIAN) has launched an online system for registering commodities agreements for the purposes of carrying out commodity operations with related parties from abroad or in the Free Trade Zone or third parties domiciled in non-cooperative jurisdictions with low or no taxation or preferential tax regimes.
Commodities Agreement Record-Form No. 2573 shall be filled virtually through the DIAN’s electronic computer services. Industries involved in the export and import activities of raw materials (mining, hydrocarbons, agriculture, etc.) must pay special attention to the timely registration of this formality. The Form follows Resolution 000067, which was issued by the Colombia tax office on 19 June 2020. The Resolution established a procedure for the registration of commodity transaction agreements subject to the transfer pricing regime.
Taxpayers are given a term of 3 months for the registration of commodities agreements voluntarily. As of 4 November 2020, the mandatory registration term of 1 month will begin in accordance with article 1.2.2.2.4.1 of Decree 1625 of 2016.
DIAN also publishes commodities agreement registration filing manual to help taxpayers comply with the registration process.
