On 11 December 2020, the Colombian National Tax Authority (Dirección de Impuestos y Aduanas Nacionales-DIAN) has issued Resolution No. 000111 in the official website. The Resolution increases the tax unit value (Unidad de Valor Tributario – UVT) from COP 35,607 to COP 36,308 for the year 2021. The UVT is used for different types of tax including individual tax brackets, penalties, etc. The UVT is also used in transfer pricing documentation thresholds, thresholds for Local, Master files, CbC reporting, and transfer pricing penalties as well.
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