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DIAN REVENUE RULING

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DIAN REVENUE RULING

DIAN issues a unified revenue ruling on tax procedure and tax penalties

DIAN clarified that the new statute of limitations for assessment and collection of tax returns will apply for those returns filed from fiscal year 2017 onwards

 

In its Revenue Ruling No. 0662 of July 25th of 2017, the Colombian Tax Authority – DIAN – clarified the following aspects that were modified by the recent tax reform enacted by Law 1819 of 2016: Amendments of tax returns, provisional liquidations, statute of limitations of tax returns, sanctionable conducts, application over time of article 640 of the Tax Code and accumulation of reductions of penalties.

Regarding the statute of limitations of tax returns, DIAN clarified that the new terms included in Law 1819 of 2016 will apply from fiscal year 2017 onwards.