Colombia Sets Transfer Pricing Documentation Requirements for 2020

January 14, 2020by TPA Global

The government of Colombia published decree 2345 concerning tax regulations for natural and legal persons for the year 2020. The decree sets out the deadlines for the tax return filing and payment, as well as the deadlines for filing TP documentation.

Highlights of the Decree

Among others, the decree describe the following:

  • The actual filing date is based on the last digits or the taxpayer’s tax ID (NIT);
  • For large taxpayers: the initial tax payment deadline is between February 11 and 24, 2020; the return and second payment deadline is between April 14 and 27, 2020; and the third payment deadline is between June 9 and 24, 2020;
  • For legal persons and other contributors, other than those classified as large tax payers: the return and first payment deadline is between April 14 and May 12, 2020; and the second payment deadline is between June 9 and 24, 2020;
  • For large tax payers: the deadline for the foreign asset returns is between April 14 and 27, 2020;
  • For legal persons: the deadline for the foreign asset returns is between April 14 and May 12, 2020;
  • For the Local File: the deadline is between July 7 and 21, 2020;
  • For the Master File: the deadline is between December 10 and 23, 2020;
  • For the Country-by-Country Report: the deadline is between December 10 and 23, 2020.

Decree (in Spanish) DIAN (Columbian tax administration) 

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