Tax administrative services in Colombia

For companies doing business across borders, tax is fast becoming one of the single largest compliance burdens and expense items. Hard-pressed governments across the world see raising tax rates, or increased audits and administrative requirements to trigger fines and interest penalties, as a key component of supporting their revenue bases.

Colombia is characterised for having constant legislation changes, companies are challenged periodically to understand government new tax legislations, tax fillings complex processes and to be exposed to sanctions and fines for non-compliance.

TMF Group is here to help. Our specialist tax professionals around the world are experts at managing both direct and indirect taxes.

How can our tax specialist help you

  • Register of the company at the National Tax Authority (DIAN) and obtain definitive Tax Identification Number
  • Prepare tax filings
  • Submit taxes to the local tax authority
  • Manage payments of tax liabilities on behalf of clients
  • Hand basic questions, notices or assessments from the tax offices

Some of the main taxes applicable in Colombia are:

Corporate Income Tax (CIT)

Corporate income tax rate in Colombia is 25%. Working alongside our accounting and reporting teams, our Corporate Income Tax (CIT) experts are able to ensure that clients’ direct tax reporting obligations are fully met wherever they are operating local, taxable companies. They can also work directly with clients’ local accounting teams or shared service centres where only an outsourced tax compliance service is required.

CREE tax (the income tax for equality)

Our tax compliance experts are fully familiarised with this national tax established during the 2012 tax reform. It was created to fund National Learning Services and the Colombian Institute of Family Welfare with a general tax rate of 9%. Additionally, there are some other related taxes such as the CREE surtax that may apply to companies. Our Colombian tax team can make you aware of this type and fill and submit you company’s CREE tax. 

Exogenous information (district and national magnetic media reports)

Companies must report to National Tax Authority (DIAN) all operations with their clients, providers or any third-party by national and municipal magnetic media reports.  This can be some of the most complex tax procedures in the year due to report’s characteristics, the key of this reports is to have the most accurate accounting records. It must be reported annually or monthly or annually with monthly periods depending on the type of company.

Contact our tax experts to explain you how we can help your company.

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