Colombia’s tax administration has recently released a new form to be used to make monthly information reporting of withholding tax. Form 350 reflects changes from the prior version of the form.
Changes contained in the new form include a requirement to report the income tax base subject to withholding tax along with the amount of withholding tax. The form also requires a breakdown of withholding tax reporting for non-residents and separate reporting for tax on non-residents located in countries having an income tax treaty with Colombia.
