Tax Bulletin No. 10

We share our Tax Bulletin No. 10 of April 2019 with the latest decisions and opinions released by the Administrative Tribunal of Cundinamarca and the Tax Authority, in connection with national and local taxes, and tax procedure.

The complete Bulletin is found only in Spanish in the below PDF, because of many domestic tax terms we are unable to translate for you. However, please find below the main subjects we will be speaking of in the Bulletin. If you are interested to find out more information, do not hesitate to contact.

1. Legislation

1.1. Colombian Government sets the dates to file the equity and normalization tax and make the corresponding payments

1.2. VAT exclusion regarding products that are introduced to Amazonas, Guainía, Guaviare, Vaupés and Vichada

1.3. Schedule to implement the electronic invoice

2. Rulings

2.1. Interest generated on loans granted for the acquisition of shares are not deductible from income tax

2.2. The Colombian Tax Authority indicates the scope of the modification introduced by Law 1943 of 2018 to section 476 of the Colombia Tax Code. Treatment of cosmetic surgery and reconstructive surgery services

2.3. Companies that carry out oil drilling activities can use the tax benefit provided in section 258-2 of the Colombian Tax Code until fiscal year 2018

2.4. Penalties paid for the breach of contracts are not deductible from income tax

3. Judgements 

3.1. The taxpayers of the industry and commerce tax who carry out industrial, commercial or service activities in more than one municipality must register their activity in each municipality

3.2. The location and destination of the property is important to fixing the real estate tax

4. Projects of Decrees and Resolutions

4.1. The Ministry of Finance published the draft of the decree by means of which it regulates section 512-22 of the Colombian Tax Code regarding the consumption tax over real estate acquisitions 

4.2. The Ministry of Finance issued a draft of decree by which it regulates section 66 of law 1943 of 2018