Colombia VAT compliance update
- 01 September 2013 | Richard Asquith
The Colombian Tax authorities have provided a new decree ( Decree 1794) last week on a number of VAT compliance issues. These include:
- guidance on the new monthly, quarterly and annual VAT reporting procedures.
- the VAT tax, which is operated like an income withholding tax, is 15%. However, where the taxpayer has been in consistent credit positions for at least six months, this may be reduced to 10%.
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.