CHANGES TO THE INDUSTRY AND COMMERCE TAX (ICA)
The new regulation included a description of the service activities subject to the tax
These activities should include all the services, activities, or labors executed by an individual or a corporation, outside of a labor relationship or contract between the parties, regardless of the predominance of the material or intellectual content of the activity.
The new regulation also included a new criterion for determining the territoriality for “investment” activities. All income perceived from businesses will be taxed by the city where the business or corporation is located. This means that the dividends perceived by Colombian holding entities will be subject to ICA tax.
This treatment is established in Article 343 of Law 1819 of 2016.