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Colombia: new tax obligations for self-withholding agents — press release issued

The National Tax Authority (Dirección de Impuestos y Aduanas Nacionales (DIAN)) recently issued a press release regarding new tax obligations applicable to self-withholding agents as from 1 January 2017.

The press release recalls that the tax reform revoked the fairness tax (impuesto sobre la renta para la equidad, CREE). As a result, self-withholding agents are no longer obliged to comply with CREE tax obligations. However, self-withholding agents must file the income tax withholding return on a monthly basis.

According to DIAN, taxpayers obliged to apply income tax withholding are Colombian taxpayers, foreign entities and permanent establishments that are exempt from payroll fees accrued on wages and labor payments made to employees earning 10 statutory minimum salaries or less per month.

The deadlines for filing the first withholding income tax return corresponding to tax year 2017 have been set between 8 February and 21 February 2017.

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