Government tax measures due to COVID-19
Government tax measures due to
COVID-19
Dear clients,
friends and colleagues:
Due to the public health emergency caused by
COVID-19, the Government took the following measures in tax matters:
1. Extension of deadlines for filing and paying
taxes
Income Tax |
|
Large
Taxpayers Tax return
and payment of second installment 21 April until 5 May 2020. |
Other
Taxpayers Tax return
and payment of first installment: 21 April until 19 May 2020. |
Income tax,
passenger air transport activities, hotel services, theatrical activities and
live shows |
|
Large
Taxpayers Second
Installment: Until 31 July 2020. Third
Installment Until 31 August 2020. |
Other
Taxpayers First
Installment: Until 31 July 2020. Second
Installment: Until 31 August 2020. |
Deadline to
pay the advance of the surcharge income tax and complementary - financial
institutions |
|
Large
Taxpayers First
Installment: 21 April to 5 May 2020. Second Installment:
9 – 24 June 2020. |
Other
Taxpayers First
Installment 21 April to 19 May 2020. Second
Installment: 9 - 24 June 2020. |
Income and
complementary tax return - Legal entities applying for linking to Public
Works Tax |
|
Large
Taxpayers Second
Installment until 29 May 2020. |
Other
Taxpayers Tax return
and payment of the first installment until 29 May 2020. |
Declaration
of assets abroad |
|
Large
Taxpayers 21 April
to 5 May 2020. |
Other
Taxpayers 21 April
to 19 May 2020. |
25 September
2020. |
Equity Tax |
First installment: 12 May to 26 May 2020. Tax return and payment of the second installment: 28 September to 9
October 2020. |
VAT |
Those who
carry out the following business activities will have a deadline to pay VAT
for II Bimester or the first four months of 2020, until 30 June 2020:
|
VAT, II
bimester and first four months of the year 2020, passenger
air transport activities, hotel services, theatrical activities and live
shows. |
Until 30 July
2020. |
National
Consumption Tax |
Those who
carry out the following business activities will have a deadline to pay the
National Consumption Tax for the second two months of 2020, until 30 June
2020:
|
Special Tax
Regime |
The deadline
for updating the registry of entities belonging to the Special Tax Regime and
the date to hold meetings of the management body to approve the destination
of the surplus was extended until 30 June 2020. |
Maturities presentation and advance payment SIMPLE regime |
|
I Bi-monthly: |
5 May 2020. |
II Bi-monthly: |
9 June 2020. |
III Bi-monthly: |
7 July 2020. |
IV Bi-monthly: |
8 September 2020. |
V Bi-monthly: |
10 November 2020. |
VI Bi-monthly: |
13 January 2021. |
2. Postponement of terms in procedures and
remedies
The terms of
the procedures and remedies in tax, customs and exchange matters are postpone
between 19 March and 3 April 2020.
In customs
matters this includes: |
|
In addition,
the terms are postpone for the internal management of applications and
complaints by Electronic Computer Service “PQRS”.
During this
time there will be no attention to the public at the offices of the sectional
taxes and customs.
3. Authorization to governors and mayors to
reduce rates of land taxes.
Governors and
mayors are authorized to reduce the tax rates of their territorial entities
during the term of the health emergency.
4. Transitory exemption from VAT on medical
equipment or devices.
Temporary
VAT exemption |
A temporary
exemption was established for the import and sale of the following goods: 1. Nebulizer; 2. Scale
weight for babies; 3. Vital
sign monitor; 4. Electrocardiograph; 5. Glucometer; 6. Tensiometer; 7. Pulse
oximeter; 8. Secretion
vacuum cleaner; 9. Defibrillator; 10. Incubator; 11. Radiant
heat lamp; 12. Phototherapy
lamp; 13. Infusion
pump; 14. Sense
organs kit; 15. Oxygen
bullet; 16. Stethoscope; 17. Fan; 18. Portable
X-ray equipment; 19. Oxygen
concentrator; 20. Transport
monitor; 21. Flow
meter; 22. Cephalic
chamber; 23. Hospital
bed; and 24. Pediatric
hospital bed. The
exemption does not give the right to refund or compensation for the VAT paid
by the person responsible, but it does treat it as a deductible tax. The balances in favor may be attributed to the returns of the
following periods. |
5. 0% tariff on imports of products from the
health sector and air transport companies.
0% Tariff |
A 0% tariff
was established for the import of some products from the health sector and
from air transport companies. Some
products of the health sector are: Oxygen,
compresses, soaps, antibacterial gel, special masks for the protection of
workers, gloves for surgery, masks for protection, among others. Some
products of air transport passenger or cargo companies that operate in and
from Colombia are: Lubricating
preparations; floor coverings; gaskets and gaskets; corrugated paper boxes;
switches and electrical conductors, among others. |