- The Colombian Tax Authority has issued a draft resolution on correcting invoicing-related tax breaches under a transitional regime.
- Taxpayers can voluntarily correct eligible formal tax errors by April 30, 2026, by remedying the breach and paying a penalty based on gross income or assets.
- The penalty ranges from a minimum of 10 UVT (about US$143) to a maximum of 1,500 UVT (about US$21,440).
- The program excludes breaches related to unfiled tax returns, transfer pricing, and validation of reported tax items.
- The draft resolution requires declaration and electronic transmission of non-invoiced or improperly invoiced operations for voluntary correction.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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