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 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 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 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 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 …


Colombia VAT compliance update

September 1st, 2013

The Colombian Tax authorities have provided a new decree ( Decree 1794) last week on a number of VAT compliance issues.  These include: guidance on the new monthly, quarterly and annual VAT reporting procedures. the VAT tax, which is operated like an income withholding tax, is 15%.  However, where the taxpayer has been in consistent …


Colombia overhauls VAT and introduces Consumption Tax

January 19th, 2013

The Colombian VAT authorities have announced some simplifications in the VAT rate regime, as well as bringing in some new goods and services into the Consumption Tax rate. Colombian VAT rate simplifications The number of VAT rates has been reduced from seven to just three: nil; 5%; and 16%. All goods on the old higher …