CbC reporting requirement-Timing: On 30 July 2018, Resolution 40 of 26 July 2018 was published in the Official Journal. Accordingly, if a constituent entity is required to submit a specific transfer pricing form (form 120), the CbCR notification will be submitted within that form. Otherwise require to download a specific form from the Tax Authority’s website and send it by e-mail to the tax authority.
Master file and Local file: On 17 July 2018, the Colombia Tax Authority issued Resolution 38 of 2018 regarding the procedure to file the BEPS Action 13 Local File and Master File for fiscal year 2017. Accordingly, the Local File and Master File should be filed electronically using Form 1729 V-7 and Form 5231 V-1, respectively. The due date of the filing form is 11th and 24th September 2018.
