Tax Terms Colombia

BEPS (Action Plan on Base Erosion and Profit Shifting): OECD action plan from 2013 targeted at helping governments fight tax planning stretegies of international companies seeking to avoid paying or reduce taxes through legal loopholes.

DIAN: Tax authority responsible for e-Invoicing. Since December 31st 2016 a new e-Invoicing system has been introduced.

NIT Number: Tax ID

IVA Tax: VAT, standard rate 16%, several deviating tax rates for different goods

Iván Duque Márquez: Elected on June 17th 2018, the new Columbian President is a lawyer and politicial for the Centro Democrático party (CD).

Impuesto de industria y comercio: Trade tax, standard rate for all trades and services between 0,2% and 1%, in Bogota rates can rise up to 1,38%

IVA Import: Import income tax, standard rate 16%, partially calculated based on CIF value