On 22 December 2023, Colombia’s Ministry of Finance published Decree No. 2229 of 22 December 2023, outlining the deadlines for filing tax returns and payments for the year 2024 and subsequent years.
The main deadlines for tax returns and payments are as follows:
- For large taxpayers, the initial tax payment is due between the 7th and 16th business day of February. The deadline for filing returns and making the second payment is between the 7th and 16th business day of April. Finally, the third payment deadline falls between the 7th and 16th business day of June.
- For large taxpayers subject to the surcharge on financial institutions, stock brokerage firms, insurance and reinsurance entities, agricultural brokerage firms, agro-industrial, commodity goods and products exchanges, and stock market infrastructure providers, the first instalment payment is due between the 7th and 16th business day of April 2024, April 2025, and April 2026. The second instalment payment is due between the 7th and 16th business days of June 2024, June 2025, and June 2026.
- For large taxpayers subject to the surcharge on hydroelectric energy production, the first instalment payment is due between the 7th and 16th business day of April 2024 and April 2025. Similarly, the second instalment payment is due between the 7th and 16th business days of June 2024 and June 2025.
- Non-residents with a substantial economic presence in Colombia must file an annual return by the 14th business day in April, starting from April 2025. For those who have chosen bimonthly payments, the payment deadlines are as follows:
- the 10th business day of March for the January-February period;
- the 10th business day of May for the March-April period;
- the 10th business day of July for the May-June period;
- the 10th business day of September for the July-August period;
- the 10th business day of November for the September-October period;
- the 10th business day of January for the November-December period.
- For taxpayers in legal entities, the deadline for filing returns and making the first payment falls between the 7th and 16th business day of May. The second payment deadline also falls between the 7th and 16th business day of July.
- The deadline for filing foreign asset returns varies depending on the taxpayer. For large taxpayers, it falls between the 7th and 16th business day of April. For other legal entities, the deadline falls between the 7th and 16th business day of May.
- For natural persons, the deadline ranges from the 7th business day of August to the 17th business day of October.
- For individuals, the deadline for the return and single instalment payment falls between the 7th business day of August and the 17th business day of October.
The deadlines for VAT returns/payments are as follows:
- For taxpayers with a bimonthly reporting period, the due dates fall between the 7th and 16th business days of March, May, July, September, November, and January following the respective bimonthly period.
- For taxpayers subject to a 4-month period, the deadlines fall between the 7th and 16th business days of May, September, and January following the 4-month period.
- For foreign service providers who are subject to VAT, the due dates fall on the 10th business day of March, May, July, September, November, and January following the bimonthly period.
- For taxpayers under the simplified regime who must file annual VAT returns, the filing deadline falls between the 11th and 15th business day of February.
- Payments are due between the 7th and 16th business days of May, June, July, September, November, and January.
In the Decree No. 2229 of 22 December 2023, Colombia also published the updated deadlines for submitting various forms of transfer pricing documentation. These include the informative declaration, country-by-country (CbC) notification, Local file, Master file, and CbC report for tax year 2023 and later.
The new deadlines now fall between 7 and 16 business days of September of the corresponding year.
