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Colombia VAT reporting update

  • May 3, 2015 | Richard Asquith

Colombia VAT reporting update

Colombia has updated the rules to determine the frequency of VAT reporting. The guidance issued by the National Tax Authority updates the existing tax code.

VAT registered businesses are required to file VAT returns in either a bi-monthly, quarterly of annual basis. This is based on annual turnover thresholds, and the prior calendar year is used as the determining base. Newly established businesses will have to file on a bi-monthly basis for their first year.

VAT Returns are generally submitted via form 300 – although there is a separate reporting schedule for businesses using the reverse charge. The reporting deadline is the last working day of the month following the reporting period.

The Colombian VAT rate is currently 18%.

VP Global Indirect Tax
Richard Asquith
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 won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.