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DIAN DRAFT OF RESOLUTION

DIAN presented a draft Resolution listing the Stock Exchanges of recognized international appropriateness for the “place of effective management” test

On June the 28th DIAN presented a draft of resolution in which Stock Exchanges of recognized international appropriateness are listed in accordance with article 12-1 of the Colombian Tax Code

 

Recently DIAN proposed a draft of the resolution that determines for purposes of article 12-1 paragraph 4, stock exchange of recognized international appropriateness. Such provision sets that there is no place of effective management in Colombia for foreign companies or entities that have issued bonds or shares of any Colombian Stock Exchange or from a Stock Exchanges of recognized international appropriateness.

In this sense, in accordance with the list issued by the Financial Superintendence on February of 2016, DIAN aims to determine which are the  Stock Exchanges of recognized international appropriateness in accordance with article 12-1 of the Colombian Tax Code. The draft contains a list of 20 Stock Exchanges that includes American Stock Exchange, London Stock Exchange, Tokyo Stock Exchange, Bolsa de Valores de Lima, Bolsa Mexicana de Valores, among others.