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Branches of Foreign Companies
There are 7 main duties:
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Branches of foreign companies must file the Income Tax Returns of 2020, considering the following deadlines:
1.1 Legal entities/corporations and other taxpayers
2.1 For fiscal year 2020 and 2021, the following will file wealth tax return, at a rate of 1% for each year:
2.2 Foreign companies and entities that (a) are not income taxpayer and (b) own wealth located in Colombia such as real estate properties, yachts, boats, artworks, planes or oil or mining rights, different than shares, receivables and/or portfolio investments
Check here for filing deadlines of wealth and “Normalization” Tax return
Income taxpayers must file the annual return of assets owned located abroad.
Check deadlines for Annual return of assets owned located abroad:
3.2 Legal entities/corporations not Large Taxpayers
Income taxpayers, that perform business activities with related parties located abroad and within custom zones, are subject to transfer pricing regime and must file the informative statement and the proof or transfer pricing.
Check here deadlines for Transfer pricing Informative Statement and Proof of transfer pricing.
Individuals and companies or entities subject to Value Added Tax VAT must file the VAT returns bimonthly or triannual, depending on the annual income received by December 31, 2020.
Check deadlines for Value Added Tax Returns:
Withholding agents of VAT and income tax, and designated self-withholders of Income Tax are required to submit and pay returns every month during 2021.
Taxpayers must provide DIAN (Colombian Tax Authority) with information about operations/transactions sustained with costumers or users.
Such information must be reported in 2021 by the following dates:
