On 19 March 2020, the Colombian Ministry of Finance and Public Credit has published Decree 435 regarding new deadlines for the presentation of tax obligations for other taxpayers not contained in Decree 401 of 13 March 2020. Among the main provisions of the Decree are:
- The deadline to file the annual tax return and make the first and second tax payment for large taxpayers will be from 21 April 2020 to 5 May 2020, depending on the taxpayer’s Tax Identification Number (TIN);
- The deadlines to file the annual tax return and make the first payment for legal entities will be from 21 April 2020 to 19 May 2020, depending on the taxpayer’s Tax Identification Number (TIN);
- The deadlines for filing the annual tax return for assets held abroad will be from 21 April 2020 to 5 May 2020 and for legal entities from 21 April 2020 to 19 May 2020;
- The deadline for taxpayers providing food and beverages to pay the VAT and national excise tax for the March to April period or for the January to April period is extended to 30 June 2020, depending on the last digit of the taxpayer’s tax identification number.
Through Decree 438 of 19 March 2020, the Ministry of Finance and Public Credit (MinHacienda) accepts transitional tax measures within the State of Economic, Social and Ecological Emergency (in accordance with Decree 417 of 2020). Main measures of the decree are:
- Transitory exemption from sales tax -VAT, for the duration of the emergency referred to in Decree 417;
- This exemption applies to the importation and sales into the national territory of medical equipment and supplies as long as the technical specifications established in the Annex that are an integral part of the aforementioned Decree are met;
- The balance in favor that could be generated is not subject to compensation and/or refund, but may be charged in the statements of the following periods.
