Colombia Archives | Biz Latin Hub

Why Seek Tax Advisory Services in Colombia?

by Accounting Team Colombia | Sep 11, 2020

Colombia is considered one of the most attractive countries in South America to invest and to do business in. However, with an ever-changing tax landscape, it is essential for companies and business owners to engage with a trusted tax advisory services provider. We outline the most important reasons why you must seek tax advisory services in Colombia when doing business in the country. Colombian tax system is complex In Colombia, registration processes at the national level are different from...

How to File Taxes as a Corporation in Colombia

by Legal Team Colombia | Sep 2, 2020

Are you planning to invest or expand your company’s operation in Colombia? Learn how to file taxes as a corporation in Colombia. Corporations operating in Colombia -one of the fastest-growing economies in Latin America- are expected to comply with taxes at the national, regional, and municipal levels. These taxes may vary depending on the local regulations in each territory. Here we outline the most important aspects foreign investors must consider when filing taxes in Colombia. ...

August 2020 Regulatory Update: South and Central America

by Team Latin America | Sep 1, 2020

Our legal and accounting professionals report notable regulatory updates for August 2020. At Biz Latin Hub, our team of accounting and legal professionals operating across key markets in Latin America report the following notable regulatory updates for August 2020 in Argentina, Bolivia, Costa Rica, Ecuador, El Salvador and Panama. We enable foreign companies operating in Latin America to comply with all their corporate legal, accounting, and tax obligations to ensure their ongoing success and...

Explaining Corporate Dividend Tax in Colombia For Businesses

by Accounting Team Colombia | Aug 28, 2020

Find out everything you need to know about corporate dividend tax for businesses in Colombia. Understanding corporate dividend tax might be a challenging experience for companies recently operating or looking to operate in Colombia. We outline the key concepts every foreign executive should consider when complying with local regulations and interacting with Colombian tax authorities. What are dividends for tax purposes in Colombia? In Colombia, dividends can be taxed by the company who...

Why Engage with an Accounting and Tax Advisory Provider in Colombia?

by Accounting Team Colombia | Aug 25, 2020

Understand why it's important to engage with an accounting and tax advisory provider in Colombia. Colombia is one of the leading economies in Latin America. Its dynamic economy attracts the attention of investors from all over the world. However, with an average of 10 mandatory tax payments and nearly 256 hours per year dedicated by each company to tax and accounting activities, it's crucial to seek the support of an accounting and tax advisory provider to reduce administrative burdens....

Overview of Corporate Tax and Planning in Colombia

by Accounting Team Colombia | Aug 21, 2020

The corporate tax season in Colombia usually takes place between February and June of each year. During this time, companies of all sizes and sectors doing business in the country are encouraged to review their corporate tax expenditure and look for optimization alternatives through corporate tax planning for the next year. Understand why corporate tax planning will maintain your business in good standing while complying with Colombian fiscal policy. What is corporate tax in Colombia and who...

Understanding Dividend Withholding Tax in Colombia for US Residents

by Accounting Team Colombia | Aug 14, 2020

Learn about dividend withholding taxes in Colombia that US residents should expect to pay to Colombian Tax Authorities when receiving dividends from Colombian companies. Colombia has an unmatched business environment. Its economy has seen growth rates of over 4% a year consistently during the last 5 years, according to data by the Ministry of Foreign Affairs. With a growing number of US residents investing in companies in Colombia, it’s important to clearly understand how the dividends from...

How Corporate Tax Planning Strategies Reduce Liability and Improve Profitability

by Team Latin America | Aug 4, 2020

Find out the essential elements for corporate tax planning strategies and how your company can make the most of them to reduce liabilities and improve profitability. Businesses and multinational entities must remain compliant with the law administered across all countries they operate within. Depending on tax agreements and arrangements between jurisdictions, this can make for a complex tax compliance burden to bear, especially for foreign companies unfamiliar with these markets. What is tax...

When Do You Need a Transfer Pricing Study in Colombia and What Has Changed During Covid-19?

by Accounting Team Colombia | Jul 30, 2020

Find out when businesses should carry out a transfer pricing study in Colombia, and changes in the regulatory environment that could impact your activities. Transfer pricing is a broad concept coined by the Organization for Economic Cooperation and Development (OECD) which encompasses a set of obligations for multinational enterprise groups who develop commercial transactions between their member companies. What is a transfer pricing study in Colombia? OECD issued a set of recommendations...

Explaining Developments in Digital Tax in Latin America

by Team Latin America | Jul 28, 2020

Economies in Latin America are changing rapidly. One important regulatory development for many countries in the region is digital tax, because it captures services delivered online or electronically. The OECD claims that Latin American economies are making real progress to address the tax challenges arising from the digitization of the economy. This international entity also expects that further digital tax developments in Latin America provides stability and certainty in the international tax...

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