DIAN REVENUE RULING
DIAN issues a comprehensive revenue ruling regarding the Tax on Financial Transactions (GMF)
The revenue ruling unifies DIAN’s guidelines in connection with the GMF tax, and specifies the different taxable events and special exemptions
By means of its Revenue Ruling No. 1466 of 2017, DIAN clarifies some recurrent questions about the tax of financial transactions –GMF- for its acronym in Spanish. The GMF, currently at a rate of 0,4%, was created by means of Law 633 of 2000, and applies to accountholders and entities belonging to the financial system, from January 1st 2001 onwards.
For tax purposes, DIAN defined as “financial transactions” the disposal of resources from savings or checking accounts, including the withdrawal of cash through checks, debit cards, ATMs, cash points, checkbooks, among others. The Revenue Ruling compiles the individual rulings analyzing case transactions and describing, for each of them, the taxable events, taxpayers, and special events.