Taxpayers Required to File the Transfer Pricing Information Return and the Local Report in Colombia

26 septiembre, 2023

Taxpayers required to file the Transfer Pricing Information Return and the Local Report on Supporting Documentation for the 2022 tax year must meet the following requirements.

Obligation

 Requirements

Informative Return

Income tax taxpayer when:

  1. Engages in transactions with related parties.
  2. Gross net worth on the last day of the taxable year or period is equal to or greater than the equivalent of 100,000 UVT (3,800,400,000 COP), or
  3. Gross income for the respective year is equal to or greater than the equivalent of 61,000 UVT (2,318,244,000 COP).

Local Tax Return

Income tax filer when:

  1. They conduct transactions with foreign related parties.
  2. They conduct transactions with related parties located in a free trade zone.
  3. Such transactions, when they exceed the equivalent of 45,000 UVT (1,710,180,000 COP).
  4. Transactions with companies located in tax havens, when they exceed the equivalent of 10,000 UVT (380,040,000 COP).

Colombia Filing Deadlines

LAST DIGIT OF THE NIT

Deadline by

1

September 7

2

September 8

3

September 11

4

September 12

5

September 13

6

September 14

7

 September 15

8

September 18

9

September 19
0

September 20

Penalty for late filing

  • Filing within 5 business days after the due date: Penalty of 0.05% of the total value of the transactions subject to reporting.
  • Submission more than 5 business days after the due date: Penalty of 0.2% of the total value of the transactions subject to reporting, for each calendar month or fraction thereof of delay.

Penalty for Inconsistencies.

The penalty is equal to 1% of the value of the transaction for which the inconsistent information was provided.

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