Colombia issues decree on the tax return and TP documentation deadline in 2022
On 20 December 2021, the Colombian Ministry of Finance and Public Credit has issued Decree 1778 specifying the deadlines for filing and payment of the tax return (declaration) in 2022 and the deadline for transfer pricing (TP) documentation,
See MoreColombia reduces interest and penalties in response to COVID-19
On 29 October 2021, the Colombian National Tax Authority (Dirección de Impuestos y Aduanas Nacionales-DIAN) has issued Resolution No. 000126, through which DIAN has temporarily reduced penalties to 20% and a default interest rate of 20% of the
See MoreColombia issues Draft Resolution to set UVT for 2022
On 8 November 2021, the Colombian National Tax Authority (Dirección de Impuestos y Aduanas Nacionales-DIAN) has issued a Draft Resolution to set out the tax unit value (Unidad de Valor Tributario – UVT) applicable for the year 2022. The UVT is
See MoreColombia: Government issues regulations identifying preferential tax regimes
On 28 October 2021, the Colombian Government has issued Decree 1357, through which it partially regulates article 260-7 of the Tax Code. The Decree identifies criteria to consider a jurisdiction as a Preferential Tax Regime. This decree was
See MoreColombia approves new Tax Reform Bill 2021
On 14 September 2021, Colombia has approved the new Tax Reform Bill 2021 (Law No. 2155 of 2021) which modifies corporate income tax (CIT), value-added tax (VAT), and tax incentives. The main tax measures of the Tax Reform Bill are as
See MoreColombia issues Resolution on transfer pricing return and CbC notifications
On 11 August 2021, the Colombian National Tax Authority (Dirección de Impuestos y Aduanas Nacionales-DIAN) has issued Resolution No. 000072 setting out the procedure of the submission of the transfer pricing return and CbC notification for the tax
See MoreColombia introduces new tax incentives for the maritime sector
On 4 August 2021, Colombia has issued Law 2133, which is aimed at creating incentives in the development of naval activities in Colombia that keep the maritime economy of the country related. The income from the international maritime transport
See MoreColombia submits a new Tax Reform Bill to Congress
On 20 July 2021, the Colombian Executive branch has submitted a new tax reform bill (the Social Investment Act) to Congress. The Bill modifies corporate income tax (CIT), value-added tax (VAT), and tax evasion measures. The main tax measures of
See MoreColombia further extends the payment deadline for micro and small companies
On 4 June 2021, the Colombian Ministry of Finance and Public Credit has published Decree No. 612 by which the corporate income tax payment of micro and small companies has been extended amid the COVID-19 pandemic. Previously, Decree No.
See MoreColombia joins OECD International Compliance Assurance Programme (ICAP)
Recently, Organisation for Economic Co-operation and Development (OECD) has announced that Colombia joins International Compliance Assurance Programme (ICAP). ICAP is a voluntary risk assessment and assurance programme to facilitate open and
See MoreColombia: President announces withdrawal of tax reform after protests
On 2 May 2021, Colombian President Ivan Duque has announced that he would withdraw the proposed tax reform which was submitted to Congress on 15 April 2021. This decision came at such a time when multiple deaths occurred around the country since
See MoreColombia extends payment deadline for micro and small companies
On 9 April 2021, the Colombian Ministry of Finance and Public Credit has published Decree No. 374 by which the corporate income tax payment of micro and small companies has been extended amid COVID-19 pandemic. The first installment is between 9
See MoreColombia reduces advance payment of income tax for 2021
On 9 April 2021, the Colombian Ministry of Finance and Public Credit has published Decree No. 375, through which it reduces the advance payment to be made by income taxpayers in the year 2021 as a consequence of the emergency generated by
See MoreColombia: Government submits Tax Reform Bill to Congress
On 15 April 2021, the Colombian government has submitted new Tax Reform Bill (Sustainable Solidarity Act) to Congress. The Bill modifies corporate income tax (CIT), value-added tax (VAT) and personal income tax. The main tax measures of the Tax
See MoreColombia increases the value of tax unit for 2021
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)
See MoreColombia issues a decree on the tax return and TP documentation deadline
On 17 December 2020, the Colombian Ministry of Finance and Public Credit has issued Decree 1680 specifying the deadlines for filing and payment of the tax return (declaration) in 2021 and the deadline for transfer pricing (TP) documentation,
See MoreColombia: DIAN issues resolution on Mutual Agreement Procedure
On 21 August 2020, the Colombian National Tax Authority (Dirección de Impuestos y Aduanas Nacionales, DIAN) has issued Resolution No. 000085 in the official gazette which establishes Mutual Agreement Procedure (MAP) to avoid double taxation and
See MoreColombia issues decree on the mega-investment regime
On 21 August 2020, the Colombian Ministry of Finance and Public Credit has published Decree 1157, through which the Government regulated one of the instruments that it created in the Economic Growth Law of December 2019, and which is part of the
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