Tax Advisory Services
Operating a business in Colombia involves navigating numerous responsibilities, especially in ensuring compliance with tax obligations at the national, territorial, and district levels—particularly in Bogotá. Given the frequent changes in Colombian laws, procedures, and regulations, staying current with tax advisory services is critical. Equally important is having personnel with strong skills in interpreting and understanding legislation, particularly the laws specific to your industry. This approach not only mitigates operational risks but also helps prevent costly penalties.
Get the right tax services
Business Tax Planning Services
Tax laws in Colombia are not solely designed for revenue collection; they also include various incentives aimed at strengthening key income sources. When establishing a company, proper tax advisory is crucial to identify applicable taxes and leverage legal benefits. This involves identifying the taxes applicable to your economic activity and taking advantage of the available legal benefits. Our tax advisory services take into account factors such as corporate structure, operational territories, special regulations, and investment plans. Our tax team develops strategies that minimize tax burdens and maximize profitability, ensuring efficient compliance with tax obligations and sustainable growth for your business.
Tax Compliance Advisory
Once tax planning is complete, your company will have a clear understanding of its fiscal obligations. From there, we establish accounting policies for recognizing, recording, and managing the taxes that must be paid or collected. As part of our tax advisory services, we provide a detailed calendar of tax filing and payment deadlines, ensuring timely compliance with all obligations. Our accountants deliver comprehensive and personalized services during this critical phase.
Below is information on some of the most common formal obligations applicable in Colombia and Bogota:
The unified national tax, which includes occasional earnings, applies to legal entities, individuals, and assimilated entities. It taxes profits that result in an increase in assets unless expressly exempted by law.
There is also an obligation to submit reports summarizing operations conducted with clients, suppliers, employees, or other third parties during the taxable period, as required by national, district, or municipal control entities. The purpose of these reports is to cross-check information from taxpayers and other responsible parties, ensuring proper filing of returns and identifying entities that must meet their formal tax obligations.
There is an obligation to report a summary, under the standards defined by the control entities of the National, District, or municipal order, the operations carried out with clients, suppliers, employees, or other third parties, which have been carried out during the taxable period.
Its purpose is to carry out crossings of information of taxpayers and those responsible for taxes and guarantee the correct presentation of the returns, identify subjects obliged to present, and pay their formal duties with the State.
The rate depends on the annual gross income and the nature of the business activity, ranging from 2.6% to 13.6% on both ordinary and extraordinary gross income earned during the taxable year.
Tax services
When tax assessments result in a credit balance, your company may request a refund or compensation from DIAN, improving liquidity. It is advisable to seek tax advisory services guided by an accountant for this process. These credit balances arise from withholdings made by companies, self-withholding, or higher expenses relative to income in the ordinary course of business. If a refund request is viable, the required documents are prepared and submitted. Proper handling of documentation is critical to facilitate future audits. Our tax advisory team will support you throughout the entire process, including visits from tax authorities, ensuring full compliance.