In accordance with the amendments introduced by Article 108 of Law 1819 of 2016 modified article 260-5 of the Tax Code, the Colombian national tax authority (DIAN) announced that the new conditions must be fulfilled by taxpayers who are subject to the transfer pricing regime in order to adopt the scope of the supporting documentation of transfer prices, aligning it with the new international standards established in the result of Action 13 of the BEPS OECD / G20 project.
DIAN also announced that they are working on technical developments to assist taxpayers for complying with the submission of the Country-by-Country (CbC) Report.
Tax authority has provided guide for the CbC Reporting XML schema given by OECD as a guidance for taxpayers.
