Colombia MOF Issues Updated Regulatory Decree on Tax Compliance Framework

The Colombian Ministry of Finance and Public Credit May 8 posted an updated version of Decree No. 1625 of 2016, the single regulatory decree on tax matters, current as of the same date. The decree includes measures: 1) consolidating tax regulations, including income tax, occasional gains tax, transfer pricing, withholding tax, VAT, national consumption tax, stamp duty, financial transactions tax, carbon tax, and the simplified tax regime; 2) regulating special tax regimes and incentives for cooperatives, permanent establishments (PEs), holding companies, environmental investments, housing, software, orange economy activities, and Special Economic and Social Zone (ZESE) taxpayers; 3) establishing procedures, audits, ...