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Legal Bulletin

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DIAN REVENUE RULING

New wealth tax computation clarifications issued by DIAN

In its Revenue Ruling 20771 of 2015, the Tax Authority (DIAN) held that the definition of “possession” included in Section 263 of the Tax Code, should be taken into account when calculating the gross equity

DIAN REVENUE RULING

Income tax liability of Mutual Investment Funds

In its Revenue Ruling 118115 of 2015, the Tax Administration (DIAN) held that Mutual Investment Funds (“MIF”) that don’t perform industrial or marketing activities are not required to pay income tax

DIAN REVENUE RULING

Principle of favorability in the application of rules amending period taxes

In its Revenue Ruling 18128 of 2015, the Tax Administration (DIAN) held that the principle of favorability is only applicable in connection with rules amending provisions which include sanctions

DIAN REVENUE RULING

Consequences from removing liabilities from accounting books

In its Revenue Ruling 6498 of 2015, the Tax Administration (DIAN) described the consequences that derive from the exclusion of liabilities from the accounting

DIAN REVENUE RULING

Exporters must file VAT returns every two months

The Tax Administration (DIAN) held that, regardless of the income perceived by the exporter in the previous tax year, VAT returns should be filed every two months

CONSTITUTIONAL COURT RULING

The Constitutional Court issues ruling authorizing exempt employment income to be subtracted in the determination of “IMAN” and “IMAS”

The 25% employment income exemption is only applicable from 2016 onwards

CONSTITUTIONAL COURT RULING

Constitutional Court ruled Constitutional the voluntary disclosure tax

Taxpayers who have unreported assets and non-existing liabilities as of January 1st 2016 and 2017, respectively, will be eligible to file the Voluntary Disclosure Tax for those periods

DIAN REVENUE RULING

Conditions for an alien individual to be considered a tax resident alien in Colombia

In its Revenue Ruling 0686 of 2015, the Tax Administration (DIAN) reviewed the criteria for determining when a foreign individual is a considered resident for tax purposes in Colombia

RULING OF THE SUPREME COURT ON ADMINISTRATIVE MATTERS

Statute of limitations for cases where the taxpayer does not submit information by the due date

The Supreme Court on Administrative Matters referred to the statute of limitations in that particular case

RULING OF THE SUPREME COURT ON ADMINISTRATIVE MATTER

The Supreme Court on Administrative Matters invalidates three revenue rulings issued by DIAN

The three invalidated revenue rulings relate to the determination of the penalty for improper recovery of tax refunds.