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CHANGES IN THE TAXABLE PERIOD OF VAT

The reform reduces the different VAT taxable periods to two: bi-monthly and quarterly

VAT returns used to have a bi-monthly, quarterly or annual periodicity.

Trying to decrease the problems in relation with the multiplicity of taxable periods of VAT, the tax reform reduced these taxable periods into the following two:

  • Bi-monthly returns, for taxpayers whose income exceeds 92.000 UVT (COP $2.737.276.000).
  • Quarterly returns, for taxpayers whose incomes the previous year, did not exceed 92.000 UVT (COP $2.737.276.000).

This change is regulated in Article 196 of Law 1819 of 2016.