Tag: Colombia
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DIAN Resolution No. 000071 of 2019 in Colombia
DIAN Resolution No. 000071 of 2019 in Colombia prescribes the format for the Fiscal Reconciliation Report (Reporte de Conciliación Fiscal) as required by numeral 2 of article 1.7.1 of Decree 1625 of October 11, 2016. This resolution applies to the tax period 2020 and modifies article 1 of Resolution 000052 of October 30, 2018, which…
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Decree 2120 and 2150 of 2017 in Colombia
Decree 2120 of 2017 and Decree 2150 of 2017 are important regulatory instruments issued by the Colombian Ministry of Finance that address different aspects of the country’s tax system. Decree 2120 of 2017 Decree 2150 of 2017 Country by Country Reporting Decree 2120 of 2017 in Colombia directly relates to the country-by-country (CbC) reporting requirements…
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Article 260-5 of the Colombian Tax Code
Article 260-5 of the Colombian Tax Code establishes the requirements for transfer pricing documentation for taxpayers engaged in transactions with related parties. The key points of Article 260-5 are as follows: Country by Country Reporting Article 260-5 of the Colombian Tax Code is directly related to the country-by-country reporting (CbCR) requirements as part of Colombia’s…
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Country-by-Country Reporting (CbCR) in Colombia
Colombia has implemented the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13 recommendations through its domestic legislation, including Country-by-Country Reporting (CbCR). The Colombian Tax Authority (DIAN) oversees these obligations to enhance tax transparency and combat tax avoidance by multinational enterprise (MNE) groups. This guide provides a comprehensive overview of CbCR requirements in Colombia for…
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How CbC reporting is presented in Colombia
Country-by-Country (CbC) reporting is an international initiative aimed at promoting tax transparency and fairness. It requires multinational corporations (MNCs) to disclose information on their operations, profits, taxes paid, and employees in every country where they operate. In Colombia, CbC reporting is mandatory for certain MNCs, and this article will explain how it works in the…
CbC Reporting 