Colombia

Colombia VAT e-invoices Sep 2018

June 16th, 2018

From 1 September 2018, large tax payers will be required to produce electronic VAT invoices. The Colombian tax authorities, DIAN, has already selected the companies that must produce e-invoices from September. Although some companies have been granted a postponement until December 2018. Key requirements include: Invoices will be XML-based on format set by DIAN Use …


Colombia

Colombian VAT rates and VAT compliance

June 13th, 2018

VAT rates in Colombia The standard VAT rate for Colombia is , with a reduced rate for basic foodstuffs; health services and insurance, a nil VAT rate for some goods. Exports of goods or services; tourism services for non-residents; some financial services and insurance; some agriculture supplies; electricity and natural gas supplies; medicines are all …


Colombia

Colombia

June 13th, 2018

Colombia introduced Value Added Tax (Impuesto Sobre Las Ventas (IVA)) in 1983. It is administered by the Dirección de Impuestos y Aduanas Nacionales (DIAN). Should you register for Colombian VAT? Businesses providing taxable supplies of goods or services in Columbia may have to contact the tax authorities and register for VAT.  There are a number …


Colombia

Colombia scraps VAT on e-content

August 29th, 2017

Colombia plans to exempt a range of digital content provided electronically to consumers from VAT in order to boost its digital sector.  The following services are proposed to be taken out of the VAT net: Cloud-based computing Downloads of software Online digital content for e-learning e-books from non-resident sellers were recently exempted from VAT withholding tax …


Colombia

Colombia hikes VAT to 19%

October 29th, 2016

Colombia has proposed raising its VAT rate from 16% to 19% as part of a package of measures to prevent the country losing its BBB credit rating following the sharp fall in global oil prices. Colombia would also introduce VAT on electronic services provided to consumer by companies based outside of the country. This hike …


Colombia

Colombia electronic invoices

December 4th, 2015

Colombia has issued new guidance on the obligations for electronic invoices. The new rules cover: Guidance on who should produce e-invoices, and registration with the register of issuers of e-invoices Electronic controls over issuance of invoices by suppliers and their acceptance by customers Rules and informational requirements for the submission of e-invoices to the Columbian …


Colombia

Colombia VAT reporting update

May 5th, 2015

Colombia has updated the rules to determine the frequency of VAT reporting. The guidance issued by the National Tax Authority updates the existing tax code. VAT registered businesses are required to file VAT returns in either a bi-monthly, quarterly of annual basis. This is based on annual turnover thresholds, and the prior calendar year is …


Colombia

Colombia extends VAT refunds to mobile payments to cut fraud

August 24th, 2014

The Colombian tax office has clarified the procedures for individuals to reclaim up to 2% of VAT that is charged to them when paying by credit or debit cards on their mobile phone or tablet. This incentive is designed to stimulate the use of electronic payments by consumers, and thus reduce the likelihood of undeclared …