The deadline to file income tax returns for companies in Colombia is approaching and with it the support of accountants for this important compliance, it is worth mentioning that this process is carried out through an adequate tax planning during the entire accounting period to be presented, in which some of the important points that have an impact on raising the income tax to be paid should be evaluated and in turn mitigated.
Some businessmen ask why the financial information differs from the tax information reflected in the income tax and this is because the tax administration recognizes expenses under certain established conditions or limits some operations performed by the company, let's see some examples of these differences: