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Legal Bulletin

taxbulletin

DIAN REVENUE RULING

Obligations of taxpayers as settlors, contributors or designated beneficiaries in revocable or irrevocable trusts incorporated abroad

The Colombian Tax Authority ruled on aspects concerning the Voluntary Disclosure Program (Amnesty) in relation to trusts incorporated abroad

DIAN RESOLUTION

Taxpayers selected to invoice electronically

DIAN determined the taxpayers that must invoice electronically from April 2nd 2018

DECREE OF THE MINISTRY OF FINANCE

Criteria that will be taken into account for the investments in fossil fuels and minerals incentive

Investments in exploitation and exploration of oil and minerals will grant the abovementioned incentive through the Certificates of Tax Reimbursement (“CERT”)

DECREE OF THE MINISTRY OF FINANCE

Regulation of the National Consumption Tax of Plastic Bags

Plastic bags that offer environmental solutions will have differentiated rates

DECREE OF THE MINISTRY OF FINANCE

Requirements and conditions to access to the tax benefit for investments in the control, conservation and improvement of the environment

Legal entities that perform this type of investments will be entitled to deduct from their due income tax twenty-five percent (25%) of the investment

RESOLUTION OF THE COLOMBIAN TAX AUTHORITY

New income tax return to be filed by foreign investors that transfer/cancel foreign investment in Colombia

By means of the Resolution No. 000069 of 2017, the Colombian Tax Authority defined that for the submission of the “Income Tax Return for Substitution of Foreign Investment”

DECREE OF THE MINISTRY OF FINANCE

Colombian tax residents obliged to submit the Local File, Master File and Country by Country report

The Decree 2120 of 2017 establishes the income tax taxpayers who are liable of submitting the informative return of transfer pricing, preparing and filing the Local File, the Master File and the country-by-country report

DECREE OF THE MINISTRY OF FINANCE

Tax treatment of the voluntary contributions made to voluntary pension funds and private insurance pensions

The voluntary contributions made by employees to voluntary pension funds or to private insurance pensions shall have a contingent withholding tax of 7%

DECREE OF THE MINISTRY OF FINANCE

Tax Treatment of concession agreements and Public Private Partnerships PPP

Costs and expenses incurred in the stages of construction shall be capitalized and recognized as an intangible asset for tax purposes