2024
Doing Business - Trends and Opportunities
The Colombian tax system is composed of national and local taxes (departments and municipalities).
Learn about Law 2300 of 2023 or the "Stop Scrubbing" Law
A quarter has passed since Law 2300 came into force and in practice it is found that many companies have not yet managed to adapt their processes and train their teams in the new regulations that the law proposes.
Companies obliged to implement the Binding Corporate Rules in the processing of personal data
If a Colombian company is part of a properly registered business group and shares personal data with companies within that group from Colombia to abroad, all companies within the structure are obligated to implement Binding Corporate Rules regarding the protection of personal data.
Learn about the duty of registration of web pages in the commercial register
Article 91 of Law 633 of 2000 establishes the obligation to register all web pages and internet sites in the commercial registry and to provide the National Tax and Customs Directorate (DIAN) with the information of the economic transactions carried out through these electronic means, taking into account the following premises:
Tax obligations to be fulfilled by 2024 - Individuals
The filing dates of the Formal Transfer Pricing Duties for the year 2024 are unified
The Ministry of Finance and Public Credit issued Decree 2229 of 2023 where the schedules to comply with the tax obligations as of 2024 and following years are established. Regarding the due dates of the Formal Transfer Pricing Duties, the main change is that the Master Report must be filed on the same day as the Informative Declaration, the Country-by-Country Report Notification and the Local Report, in accordance with Article 1.6.1.1.13.2.29.
Taxpayers offering consulting and scientific services, with income over 12,000 UVT to the RST
Constitutional Court by Judgement C - 540 of 2023, declared the unenforceability of some of the changes introduced by Law 2277 of 2022 to section 905 and 908 of tax administration, regulating the Simple Taxation Regime (hereinafter, RST).
Impact of the increase in the Minimum Wage and Transportation Allowance on labor costs
By means of Decrees 2292 and 2293 of December 29, 2023, the National Government established the new Minimum Wage and Transportation Allowance, respectively, that will be in effect for the year 2024. Taking into account the impact this has not only for workers but also for all organizations, in this newsletter we present the most significant changes that employers will have to take into account as a result of such increases.
Corporate Compliance 2024
Every year, companies must comply with certain corporate obligations in order to avoid possible penalties. The following are the main obligations that must be complied with during the year 2024, and their respective detailed extension:
Tax Compliance 2024
For the year 2024, individuals and legal entities must comply with the formal and substantial duty with respect to the taxes incurred, therefore, we detail below relevant data, as well as the dates for the declaration and payment of the main taxes.
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