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September 17, 2024
pexels tomfisk 2101137 scaled - Is the VAT incurred on tangible assets deductible for companies operating in the mining and energy sector? This article provides an explanation.

Is the VAT incurred on tangible assets deductible for companies operating in the mining and energy sector? This article provides an explanation.

The Fourth Section of the Council of State has clarified that the purchase of tangible assets does not give rise to the deduction of the value-added […]
August 8, 2024
pexels pixabay 534216 scaled - Mandatory Peso Conversion: Financial Reporting for Colombian Branches

Mandatory Peso Conversion: Financial Reporting for Colombian Branches

The transactions of a foreign branch of a Colombian company, operating with a different functional currency, must be recognized for tax purposes in Colombian Pesos. According […]
June 25, 2024
pexels kuncheek 210990 scaled - Applicability of the Comparable Uncontrolled Price (CUP) Method in the Transfer Pricing Regime: When is it Applicable?

Applicability of the Comparable Uncontrolled Price (CUP) Method in the Transfer Pricing Regime: When is it Applicable?

The Comparable Uncontrolled Price (CUP) Method is used to establish the market value of a transaction between related parties by comparing it to similar transactions carried […]
June 4, 2024
pexels lexovertoom 1109543 scaled - Consequences of the Banco de la República's New Foreign Exchange Information System on the Reporting of Exogenous Foreign Exchange Transactions

Consequences of the Banco de la República’s New Foreign Exchange Information System on the Reporting of Exogenous Foreign Exchange Transactions

Due to the adjustments being made to the DIAN’s foreign exchange information reception systems to adapt to the Foreign Exchange Information System implemented by the Banco […]
April 25, 2024
kelly sikkema xoU52jUVUXA unsplash - Only 19.7% of electronic invoices issued in 2023 apply to reduce income tax.

Only 19.7% of electronic invoices issued in 2023 apply to reduce income tax.

Law 2277 of 2022 allows individuals who file income tax under the general income category to deduct 1% of the value of their purchases made with […]
April 10, 2024
pexels alexander suhorucov 6457521 scaled - Uncontrolled Comparable Price Method for Commodity Transactions

Uncontrolled Comparable Price Method for Commodity Transactions

The Colombian Tax Authority (DIAN), following the Council of State, maintained that the Uncontrolled Comparable Price (PC) method is the most appropriate to verify whether the […]
February 26, 2024
o6x5cp0 400x200 - The favorable balances in the Value Added Tax (VAT) declaration of the absorbed company can be offset in a merger.

The favorable balances in the Value Added Tax (VAT) declaration of the absorbed company can be offset in a merger.

The DIAN (National Directorate of Taxes and Customs) in Concept 1788 of 2023 distinguishes between two factual scenarios that may occur in a business merger: firstly […]
March 29, 2023
kelly sikkema xoU52jUVUXA unsplash 400x200 - NEW LABOR REFORM BILL SUBMITTED TO CONGRESS

NEW LABOR REFORM BILL SUBMITTED TO CONGRESS

According to the new labor reform bill submitted to Congress, the following is included: Increase of the indemnity for unjustified dismissal: Both in fixed term and […]
March 29, 2023
ux indonesia w00FkE6e8zE unsplash 400x200 - REGISTRATION OPENING FOR THE INCENTIVE PROGRAM FOR THE GENERATION OF NEW EMPLOYMENT 2023

REGISTRATION OPENING FOR THE INCENTIVE PROGRAM FOR THE GENERATION OF NEW EMPLOYMENT 2023

Employers who have hired new workers by March 2021 and have not yet received the benefit 12 times, will be granted a subsidy for the monthly […]

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