In these difficult times in our lives where everything has taken a 360 degree turn, of course we cannot stop thinking about our obligations that don’t give us a break, so we would like to inform you the important aspects that you must take into account in tax matters for natural foreign taxers in Colombia.
For this is why LARM Colombia works for you to inform you the important aspects you must have at present when making the following analysis at a fiscal level.
Initial analysis:
ü Identify the time of stay in the country is greater than 183 days continuously or discontinuously in a range of 365 consecutive calendar days.
ü Review double taxation agreements
ü If you have declared income in the country of origin
ü Request the 220 form (Issued by the Company you work for)
ü Updated RUT
ü Verify the electronic signature with DIAN
ü Tax calendar period between August, September and October
Financial analysis:
1. Determine equity (It is required to have at hand the documents stating the ownership of the assets and investments as well as those that support the debts).
2. Determine the income (It is required to have at hand the documents stating the income you received during the taxable 2019 year).
3. Determine the payments that constitute deductions and expenses (It is required to have at hand the documents stating the payments made in 2019; and that they have a causal, need and proportional relationship with the income generating activity).
Remember to be aware of your Colombia identification last digit by verifying the tax calendar on the DIAN webpage (https://www.dian.gov.co/Paginas/CalendarioTributario.aspx). In accordance with the above, it is important to start the tax declaration process with one (1) month in advance to gather all the documents and reach us for further information through our official site and social media.
If you´d like to get more information about how tofile your income statement in Colombia, you can contact us here.
