Law 788 of 2002 (December 27)
Official Gazette No. 45,046 of December 27, 2002
By establishing rules are issued in tax and criminal matters of national and territorial; and other provisions. Summary
THE CONGRESS OF COLOMBIA DECREES: CHAPTER I.
CONTROL RULES PENALTY OF FRAUD AND TAX EVASION.
ARTICLE 1o. PUNISHMENT OF DIRECTORS AND LEGAL REPRESENTATIVES. The Tax hereby added the following article:
"Article 658-1. Sanction administrators and legal representatives. When punishable irregularities concerning omission taxed, double counting and inclusion of costs or deductions nonexistent and irrelevant losses income that are ordered and / or approved by the representatives who must fulfill duties are in the accounts or tax returns of taxpayers formal covered by Article 572 of this Statute, shall be punished by a fine equal to twenty percent (20%) of the sanction imposed on the taxpayer, not exceeding the sum of two hundred (200) monthly statutory minimum wages, which it may not be paid for by its represented.
The penalty will be imposed provided here by separate resolution, prior statement of objections, which will be notified within two (2) years from the date of notification of the administrative act in which the irregularity is punishable determine the taxpayer represents. The administrator or representative will have a term of one (1) month to answer the statement said. " Effective Jurisprudence
. RETURN DEDUCTIONS NOT STATED AND ADVANCES UNPAID. Hereby added a clause to Article 859 of the Tax Code, which reads as follows:
"The provisions of this Article does not apply in the case of autorretenciones, withholding tax, deductions for events provided for in Article 54 of Law 550 1999 and advances against which payment shall be credited. "
ARTICLE 3. Default interest PAYMENT OF TAX OBLIGATIONS. Modifícanse the paragraphs on the 1st. and 2nd. Article 634 of the Tax Code, which are as follows:
"Taxpayers or liable for taxes administered by the Tax and Customs, including withholding agents, who promptly canceled taxes, advance payments and withholdings office, must settle and pay default interest for each calendar day delay in payment. "
To this end, all the interest on arrears will be settled based on the interest rate prevailing at the time of the respective payment, calculated in accordance with the provisions in the following article. Effective Jurisprudence
ARTICLE 4. DETERMINATION OF INTEREST RATE MORATORIUM. Amend section 635 of the Tax Code, which reads as follows:
"Article 635. Determination of the rate of default interest. For tax purposes, as of 1. March 2003, the default interest rate will be the average effective usury least three (3) points rate determined based on the certificate issued by the Banking Superintendency during the previous quarter. The interest rate which this article refers to will be determined by the Government every four (4) months. " Editor's Notes
The 5th ITEM. NOTIFICATION BY MAIL. Amend section 566 of the Tax Code, which reads as follows:
"Article 566. Notification by mail. Mail notification will be performed by receiving a copy of the act in the direction informed by the taxpayer to the government.
The Administration may notify the administrative acts referred to in the first paragraph of Article 565 of this Statute, through any mail service, including e-mail, under the terms specified in the regulations. " Effective Jurisprudence
ARTICLE 6o. OFFICIAL REGISTRATION PROCESS OF DETERMINATION. The Tax hereby added the following article 719-1, as follows:
"Article 719-1. Registration in official determination process. In the process of determining the tax and imposition of sanctions, the respective Tax Administrator or National Tax and Customs shall order the registration of the official liquidation of review or capacity and resolution of duly notified sanction, as appropriate, in the public records, according to the nature of good, in the terms specified in the regulations.
With the registration of administrative referred to in this article acts, the assets are subject to the payment of the obligations of the taxpayer.
The registration is valid until the completion of the administrative process of coercive collection, if we add any, and will rise only in the following cases:
1. When the respective obligation is extinguished.
2. When product of the discussion process private settlement'll stay firm.
3. When the official act has been revoked via governmental or judicial.
4. When bank guarantee or insurance policy in the amount specified in the act to enroll is constituted.
5. When affected with registration or a third party offers to its name property for seizure, by an amount equal to or greater than specified in the registration, prior appraisal of the property offered.
In any of the above cases, the Administration should request the cancellation of the registration to the competent authority, within ten (10) business days following the date of communication of the fact that warrants the lifting of the entry " . Effective Jurisprudence
ARTICLE 7. EFFECTS OF THE OFFICIAL REGISTRATION PROCESS OF DETERMINATION. The Tax hereby added the following article:
"Article 719-2. Effects of registration in official determination process. The effects of the registration of which Article 719-1 are:
1. The property on which registration has been made are securing payment of the tax obligation collection object.
2. Coercively tax administration may pursue such property regardless that they have been transferred to third parties.
3. The owner of a property subject to registration must inform the buyer of such circumstances. Failure to do so, you must respond civilly to the same, according to the rules of the Civil Code. Effective Jurisprudence
Article 8. TOP REAL. Amend section 840 of the Tax Code, is amended as follows:.
"ARTICLE 840. REMATE ASSETS appraisal firm, the Administration made the auction of the property directly or through entities in public or private law and award the goods in favor of the Nation declared void if the auction after the third tender, under the terms established by the regulations.
the assets awarded in favor of the nation and those received in payment for tax debts, may provide for administration or sale to the Central de Inversiones SA or any entity established by the Ministry of Finance and Public Credit, in the form and terms established by the regulations. "
Editor's Notes Jurisprudence .. force
LINKING sOLIDARITY Article 9. dEBTORS hereby added the following paragraph to Article 828-1 of the Tax Code, as follows:
"executives titles against the principal debtor shall it against the solidarity and subsidiary debtors, without the formation of additional individual titles is required. " Effective Jurisprudence
INCOME TAX AND SUPPLEMENTARY.
ARTICLE 10. TAXPAYERS OF SPECIAL TAX REGIME. Amend paragraph 4 and a numeral 5 is hereby added to Article 19 of the Tax Code, which shall read as follows:
"4. Cooperatives, associations, unions, central leagues, agencies higher degree of financial, mutual associations, supporting institutions of cooperatives, cooperative confederations under cooperative legislation, guarded by some oversight or control bodies. These entities are exempt from income tax and complementary if 20% of remanete, taken from education funds and solidarity that Article 54 of Law 79 of 1988 refers to invest independently and under the control of the relevant supervisory bodies in formal education programs approved by the Ministry of education or the Ministry of Health, as appropriate.
Net profit or surplus of these entities will be subject to tax when intended, in whole or in part, differently from the provisions of the existing cooperative legislation. The calculation of this net profit or surplus is made according to the cooperative as established norms.
ARTICLE 11. OTHER INSTITUTIONS TAXPAYERS. Other contributors entities. Amend section 19.03 of the Tax Code, which will read:
"Article 19-3. Other contributors income tax and complementary. Taxpayers are income tax and complementary Fogafin and Fogacoop.
Income and expenses from the resources administered Fogafín and Fogacoop on the trust accounts, will not be considered for the determination of their income. The same treatment will have the resources transferred by the Nation Fogafín from the General Budget of the Nation for sanitation of public banks, the costs to these resources and transfers carried out by the Nation to these entities with destination cause under the strengthening trying Law 510 of 1999 and Decree 2206 of 1998. the resulting equity
both the trust accounts managed by Fogafín and Fogacoop, as mentioned above transfers it will not be considered in determining the assets of these entities.
The increase in technical reserves to be constituted in accordance with accounting dynamics established by the Banking Superintendency will be deductible in determining taxable income.
ARTICLE 12. INCOME NO LIMIT TO ESTABLISHING INCOME. The Tax hereby added the following article:
"Article 35-1. Limit to not constitute rental income. The not constitute rental income or occasional earnings that treat the articles 36-1, 36-4, 37, 43, 44, 46, 54, 55 and 56 of the Tax Code, they are limited in the percentages below :
70% for fiscal year 2003
50% for fiscal year 2004
20% for fiscal year 2005
0% for fiscal year 2006 ".
ARTICLE 13. LIMIT THE COSTS AND DEDUCTIONS. Adiciónese the Tax Code the following article:
"Article 177-1. Limit costs and deductions. For purposes of determining net income taxpayers, they are not acceptable costs and deductions attributable to non-constituent rental income or occasional earnings or exempt income.
PARÁGRAFO. The limitation provided for in this Article shall not apply to income from dealing Articles 16 and 56 of Law 546 of 1999, under the terms mentioned therein until 31 December 2006 ".
ARTICLE 14. LIMIT
exempt income. The Tax hereby added the following article:
"Article 235-1. Exempt income limit. Exempt income dealing the 4th paragraph Articles 211, 209, 216, 217, 219, 221 and 222 of the Tax Code.; Articles 14 to 16 of Law 10 of 1991, 58 of Law 633 of 2000 and 235 of Law 685 of 2001, are limited in the percentages indicated below:
70% for fiscal year 2003
50% for the fiscal year 2004
20% for fiscal year 2005
0% for fiscal year 2006 ". Effective Jurisprudence
ARTICLE 15. OTHER EXPENSES DEDUCTIBLE NOT CAUSED IN EMPLOYMENT. The Tax hereby added the following article:
"Article 87-1. Other expenses generated by the non-deductible employment. Taxpayers can not claim as an expense or deduction, payments which are intended to compensate in some way and have not been part of the base of withholding tax by labor income. Excepted from the above provision constitute non-taxable or exempt income payments to the worker in accordance with tax regulations including those provided in Article 387 of the Tax Code. "
ARTICLE 16. COST OF GOODS FORMED incorporeal. Amend section 75 of the Tax Code, which will read:
"ARTICLE 75. COST OF TRAINED intangible assets The cost of intangible assets formed by taxpayers concerning industrial property, literary, artistic and scientific such. as patents, trademarks, good will, copyright and other intangibles, presumably it made up thirty percent (30%) of the value of the sale.
to proceed the cost under this article, the respective intangible shall appear on the income statement and the corresponding complementary contributor to the immediately preceding fiscal year and duly supported by technical appraisal. "
ARTICLE 17. iNCOME fROM WORK EXEMPT. Amend paragraph 10 of Article 206 Tax Code, as follows:
"10 twenty-five percent (25%) of the total value of labor payments, monthly limited to four million pesos ($ 4,000,000) (value base year 2003).".
ARTICLE 18. OTHER INCOME EXEMPT. The Tax hereby added the following article:
"Article 207-2. Other exempt income: are exempt income generated from the following sources with the requirements and controls established by the regulations:
1. Sale of electricity generated based on wind resources, biomass or agricultural waste, made solely by the generating companies for a term of fifteen (15) years, provided that the following conditions are met:
a) Apply for, obtain and sell certified emission of carbon dioxide, according to the terms of the Kyoto Protocol;
B) At least fifty percent (50%) of the proceeds from the sale of such certificates are invested in social benefit works in the region where the generator operates.
2. The provision of river transport boats and shallow draft barges for a term of fifteen (15) years from the effective date of this law.
3. Hotel services provided in new hotels built within fifteen (15) years from the effective date of this law, for a period of thirty (30) years.
4. Hotel services provided in hotels remodeled and / or expand within fifteen (15) years after the effective date of this law, for a period of thirty (30) years. The exemption provided in this paragraph, shall correspond to the proportion that the value of the renovation and / or expansion in the fiscal cost of the property remodeled and / or expanded, for which prior approval of the project is required by the urban curator and the City Hall, home of the building remodeled and / or expanded. In all cases, for purposes of approving the exemption, required certification from the Ministry of Development will be.
5. Ecotourism services certified by the Ministry of Environment or competent authority in accordance with the regulations for the effect is issued for a term of twenty (20) years from the effective date of this law.
6. Use of new forest plantations, including bamboo, according to the rating for the purpose by the autonomous regional corporation or the competent entity.
Under the same conditions, shall be exempt taxpayers from the date of enactment of this Act to make investments in new sawmills directly linked to the development referred to this paragraph.
They will also enjoy the exemption referred to in this paragraph, taxpayers who at the date of entry into force of this law, possess timber plantations duly registered with the competent authority. The exemption is subject to the technical renovation of crops.
7. The new leasing contracts with option to purchase (leasing) of buildings constructed for housing, with a duration of not less than ten (10) years. This exemption will operate for contracts signed within ten (10) years after the effective date of this law.
8. New medicinal products and software developed in Colombia and covered by new patents registered with the competent authority, provided they have a high content of national scientific and technological research, certified by Colciencias or his substitute, for a term of ten (10) years from the effective date of this law.
9. The profit on disposal of land intended for public purposes referred to paragraphs b) and c) of Article 58 of Law 388 of 1997 that have been contributed to pension trusts that are created with the sole purpose, for a term equal to the project execution and settlement, without in any case exceed ten (10) years. Also they enjoy this exemption those indicated autonomous equities.
10. Providing seismic services for the oil and gas sector, for a term of 5 years from the effective date of this law. "
ARTICLE 19. EXCLUSION OF INCOME PRESUMPTIVE. Amend the seventh paragraph of Article 191 of the Tax Code and hereby added a paragraph, as follows:
"As of 1. January 2003 and the term of validity of the exemption, the assets related to the activities referred to in paragraphs 1, 2, 3, 6 and 9 of Article 207-2, shall be excluded from the presumptive income dealt with in Article 188 of this Statute, under the terms established by the regulations.
PARÁGRAFO. Excess presumptive income on ordinary net income may be offset with ordinary net income determined within five (5) years, adjusted for inflation. "
ARTICLE 20. INCOME NOT ESTABLISHING INCOME GAINS OR OCCASIONAL. Article 52 of the Tax Code is thus:
"Article 52. Rural Capitalization Incentive (ICR). Incentive for Rural Capitalization (ICR) provisions of Law 101 of 1993, does not constitute income or occasional profit. "
ARTICLE 21. OTHER ASSETS ADJUSTING NONMONETARY. Amend Article 338 of the Tax Code, which reads as follows:
"Article 338. Adjustment of other non-monetary assets. In general, they should be adjusted according to the PAAG, all other nonmonetary assets that do not have a procedure special adjustment, understood by such those goods or rights to acquire a higher nominal value effect of demerit the purchasing value of the currency " .
ARTICLE 22. EFFECTS OF NO ADJUSTMENT. Amend the second paragraph of Article 353 of the Tax Code, which reads as follows:
"When a non-monetary asset, has not been adjusted for inflation in the year, its net asset value shall be excluded for purposes of adjustment heritage liquid".
PRESUMPTIVE RENT IN SOCIETY IN LIQUIDATION. Amend paragraph 4o. Article 191 of the Tax Code, which reads as follows:
"They are not subject to presumptive income utility companies that develop complementary power generation activity; the official providers of services entities wastewater treatment and washing; concordat societies; companies in liquidation for the first three (3) years, entities subject to the control and surveillance of the Banking Superintendency has been decreed them the liquidation or have been the subject of takeover, on the grounds mentioned in subparagraphs a) g) of Article 114 of the Organic Statute of the Financial System; land banks districts and municipalities intended to be urbanized, and for the fiscal years 2001, 2002 and 2003, the mortgage portfolio securitization companies. "
ARTICLE 24. COMPENSATION OF CORPORATE TAX LOSSES. Amend section 147 of the Tax Code is amended as follows:
"Article 147. Compensation of tax losses of companies. Companies may offset tax losses adjusted for inflation, determined as of the fiscal year 2003, with net ordinary income obtuvieren within eight (8) following taxable periods not exceeding annually from twenty-five percent (25%) of the value the tax loss and without prejudice to the presumptive income for the year. The losses of the companies will not be transferable to members.
The absorbent resulting company or a merger, can offset with net ordinary income obtains, the tax losses of the merged companies, up to a limit equivalent to the percentage of ownership of the assets of the merged companies within the heritage absorbent or resulting company. The compensation of the losses suffered by the merged companies, referred to in this Article shall be made taking into account the taxable periods to compensate already elapsed and annual limits established by law in force in the period in which it was generated and declared tax loss .
The companies resulting from the spin-off, can offset with ordinary net income, tax losses incurred by the company being divided up to a limit equivalent to the percentage share of the equity of the resulting companies in the equity of the company He cleaved. The compensation of the losses suffered by the company split shall be carried out taking into account the taxable periods to compensate already elapsed and annual limits, under existing law in the period in which it was generated and declared tax loss.
If the company being divided is not dissolved, it may offset their tax losses incurred prior to the spin-off process, with ordinary net income, up to a limit equivalent to the percentage of equity that you retain after the spin-off . The compensation of the losses suffered by the company being divided shall be carried out taking into account the taxable periods to compensate already elapsed and annual limits, under existing law in the period in which it was generated and declared tax loss.
In all cases, the compensation of tax losses in merger and split with net ordinary income obtained by the companies resulting absorbent or as the case may only be derived if the economic activity of the companies involved in these process was the same before the respective merger or demerger. Effective Jurisprudence
The tax losses from not constitute rental income or windfall profit, and costs and deductions that have no causal link with the generation of taxable income in any case be offset by the taxpayer's net income.
The term firmness tax returns and corrections to those determined or offset tax losses will be five (5) years from the date of submission.
PARÁGRAFO TRANSIENT. Companies may offset tax losses at December 31, 2002 in any taxable year, with rents obtuvieren within the following five taxable periods the period in which they were recorded. " Effective Jurisprudence
ARTICLE 25. SANCTION FOR NOT PROVE THE TIMELY PAYMENT OF payroll taxes. Amend Article 664 of the Tax Code, which reads as follows:
Article 664. Penalty not credit the payment of payroll taxes. Ignorance of the deduction for wages, not to prove payment of contributions to the Social Security Institute and the entities that Law 100 of 1993 is concerned, the National Apprenticeship Service, the Colombian Institute of Family Welfare and boxes to Family compensation of those who are obliged to make such contributions, shall be made by the Administration of Taxation, if not proves that the payment was previously made to the presentation of the declaration of the income tax and complementary.
The Directorate of National Taxes and Customs, develop control programs to verify compliance of taxpayers with fiscal contributions and proceed to the rejection of costs and deductions, in accordance with the provisions of this article.
INDIVIDUALS WHO ARE RETENTION AGENTS. Amend Article 368-2 of the Tax Code is amended as follows:
Article 368-2. natural persons who are withholding agents. Natural persons having the quality of traders and that in the previous year should have the gross assets or gross revenues exceeding a half a billion pesos ($ 500 million), (base year 2002 value) also must practice withholding tax on payments or credits that made by the concepts which refer to articles 392, 395 and 401, rates and according to the current provisions on each of them.
ARTICLE 27. TAXABLE BASE IN NATIONAL TAX STAMP. Amend the first paragraph of Article 519 of the Tax Code, which reads as follows:
"national stamp tax, will cause the rate of one point five percent (1.5%) on public instruments and private documents, including securities, which are granted or accepted in the country, or to be concluded outside the country but running on the national territory or create obligations therein, which bears the constitution, existence, modification or termination of obligations, like its extension or transfer, the amount of which exceeds fifty million pesos ($ 50 million), (value base year 2002), in which intervene as grantor, accepting or subscriber a public entity, a legal person or assimilated, or a natural person who is a merchant, than in the previous year hath gross revenues or higher than five hundred million pesos ($ 500'000.000), (base year 2002 value) gross estate ".
ARTICLE 28. TRANSFER PRICING. Chapter XI hereby added to Title I of the Tax Code, which will read:
Transfer pricing Article 260-1. Transactions with related parties and related parties. Taxpayers of income tax who conduct transactions with related parties or related parties, are required to determine for the purposes of income tax and complementary, its ordinary and extraordinary income and expenses and deductions, considering for such operations prices and profit margins that had been used in comparable transactions with or between independent parties.
The tax administration, developing their powers of verification and control, determine the ordinary and extraordinary income and expenses and deductions of transactions by taxpayers of income tax and complementary to related companies or parties by determining the price or profit margin based on prices and profit margins in comparable transactions between unrelated parties or economically, in Colombia or abroad.
For the purposes of this Title, it is considered that there is an economic link when a relationship of subordination or control or business group situation according to the cases provided for in Articles 260 and 261 of the Commercial Code is present and the provisions in Article 28 of Law 222 of 1995, or when the cases of Article 450 and 452 of the Tax Code are verified.
The control can be individual or group, without participation in the capital of the subordinate or exercised by a domiciled abroad or by natural or non-corporate people die.
The link is predicated of all companies comprising the group, although its parent company is domiciled abroad.
Transfer prices referred to in this title only produce effects in the determination of income tax and complementary. Effective Jurisprudence
Article 260-2. Methods for determining the price or profit margin in transactions with related parties or related parties. The price or profit margin on transactions between related parties or related parties may be determined by the application of any of the following methods, to which should be taken into account which is most appropriate according to the characteristics of the transactions analyzed:
1. comparable uncontrolled price. The method of comparable price not controlled is to consider the price of goods or services has been agreed upon between independent parties in comparable transactions.
2. Resale price. The method of resale price is to determine the purchase price of goods or provision of services between related companies or parties, multiplying the resale price of the goods or services to independent parties, the result of decreasing, unit, the gross profit percentage obtained between independent parties in comparable transactions. For purposes of this subsection, the gross profit percentage is calculated by dividing gross profit by net sales.
3. added cost. The cost plus method is to multiply the cost of goods or services by the result of adding to the unit's percentage of gross ad tility obtained between independent parties in comparable transactions. For the purposes of this paragraph, the gross profit percentage is calculated by dividing the gross profit between the cost of net sales.
4. Utility Partition. The utility partition method is to assign operating income obtained by related companies or, in the proportion that had been assigned with or between independent parties, according to the following principles parts:
a) the value shall be determined global operation by the sum of operating income obtained in the operation for each of the economic or related parties involved;
B) The utility of global operation will be assigned to each economic or related parties involved, considering, among others, the volume of assets, costs and expenses of each of the related parties with respect to transactions between such parties.
5. Residual utility partition. The residual utility partition method is to assign operating income obtained by related companies or, in the proportion that had been allocated between independent parties in accordance with the following rules parts:
a) the utility be determined global operation by the sum of operating income obtained in the operation for each of the economic or related parties involved;
B) The utility of global operation will be allocated according to the following parameters:
(1) the minimum utility appropriate, if any, to each of the economic or related parties linked by the application is determined any of the methods referred to in paragraphs 1 to 6 of this Article, without taking into account the use of intangible s significant.
(2) the residual value will be determined, which will be obtained by lowering the minimum that paragraph (1), utility refers to overall operating profit. This residual income will be distributed between the related parties involved in the operation or related parties taking into account, inter alia, the significant intangibles used by each of them, in the proportion that had been distributed between independent parties in comparable transactions.
6. Transactional operating profit margins. The method of transactional profit margins of operation is to determine, in transactions between related companies or parties, operating income which obtained independent parties in comparable transactions, based on profitability factors that take into account variables such as assets, sales, costs, expenses or cash flows. PARAGRAPH 1.
. For the purposes of this article, revenues, costs, gross profit, net sales, expenses, operating income, assets and liabilities are determined based on the generally accepted accounting principles in Colombia. PARAGRAPH 2.
. The application of any of the methods outlined in this article, you can get a range of prices or profit margins when there are two or more comparable operations. These ranges are adjusted by applying statistical methods, particularly the interquartile range which enshrines economic science.
If prices or profit margins of the taxpayer are within these ranges shall be considered adjusted prices or margins of transactions between independent parties.
If the taxpayer is outside the set range, it is considered that the price or profit margin in transactions between independent parties is the median of that range. PARAGRAPH 3.
. The Tax and Customs may conclude agreements with taxpayers income tax, national or foreign, by which the price or profit margin of the various transactions performed with related parties or related parties, in the terms determined established by the regulations.
The pricing by agreement will be based on the methods and criteria in this Chapter and may take effect in the taxable period when requested, in the immediately preceding fiscal period to the three taxable periods following that on which is requested.
The agreements that refers to this paragraph shall apply without prejudice to the powers of oversight of the Tax and Customs. Effective Jurisprudence
Article 260-3. Criteria of comparability between related parties and independent parties. For purposes of the scheme of transfer pricing, it is understood that the operations are comparable when there are no differences between relevant economic characteristics of these and the taxpayer that significantly affect the price or profit margin referred to by the methods set out in Article 260-2 or, if there are such differences, their effect can be eliminated by reasonable economic technical adjustments.
To determine whether transactions are comparable or whether there are significant differences, the following attributes operations are taken into account, depending on the selected method:
1. The characteristics of the operations, including:
a) In the case of financing operations, elements such as the principal amount, term, risk rating, collateral, creditworthiness of the debtor and interest rate;
B) In the case of provision of services, elements such as the nature of the service and whether or not the service involves no experience or technical knowledge;
C) In the case of granting the right of use or disposal of tangible goods, items such as physical characteristics, quality, reliability, availability of good and volume of supply;
D) In the event that the operation is granted or an intangible asset, such things as the kind of good, patent, trademark, trade name or "know-how", the duration and degree of protection is transmitted and the benefits expected from its use;
E) In the case of transfer of shares, the liquid assets of the issuer, adjusted for inflation, the present value of profits or projected cash flows or the market price of the issuer's last event of the day alienation.
2. Functions or significant business activities, including assets used and risks assumed operations of each of the parties involved in the operation.
3. The actual contractual terms of the parties.
4. Economic or market circumstances, such as geographical location, size, market level market (wholesale or retail), level of competition in the market, competitive position of buyers and sellers, the availability of substitute goods and services, levels of supply and demand in the market, purchasing power of consumers, government regulations, production costs, transportation costs and the date and time of the operation.
5. Business strategies, including those related to penetration, retention and market expansion.
PARÁGRAFO. When business cycles or commercial acceptance of products taxpayer covering more than one year, it may take into consideration taxpayer information and related operations comparable to two or more previous or subsequent field exercises to exercise control. Effective Jurisprudence
Article 260-4. supporting documentation. Taxpayers should prepare and retain for a period of five years from the issuance of the document, supporting documentation relating to each type of operation entered into with related parties or related parties to demonstrate that their ordinary and extraordinary income and costs and deductions are consistent with the prices or profit margins that had used independent parties in comparable transactions. This documentation shall contain the information established by the regulations. Effective Jurisprudence
Article 260-5. Settings. When in accordance with the provisions of an international treaty on taxation held by Colombia, the competent authorities of the country with which they have signed the treaty, made an adjustment to the price or amount of consideration for a taxpayer resident in that country and always that such adjustment is accepted by the Tax and Customs, the related party resident in Colombia may file a correction without penalty in the corresponding adjustment
reflect Effective Decisions
Article 260-6. Jurisdiction lower taxation. Effective Jurisprudence
Article 260-7. Costs and deductions. The provisions of Articles 90, 90-1, 124-1, 151, 152 and paragraphs 2 and 3 of Article 312 of the Tax Code, taxpayers who meet the obligation under the first paragraph of Article 260. shall not apply 1 Tax Code in connection with the operations to which you apply this regime.
Operations to which they apply the rules of transfer prices, are not sheltered with limitations on costs and expenses under this Statute for related parties. Effective Jurisprudence
Article 260-8. Obligation to submit information return. Taxpayers of income tax and additional, required the application of the rules governing transfer pricing, must file an annual information return of operations with related parties or related parties.
This declaration will apply, as appropriate, the rules of the Fifth Book of this Statute. In addition, they must comply with the presentation of the information through regulations indicated by the National Government.
PARÁGRAFO. In cases of subordination or control or business group situation according to the cases provided for in Articles 260 and 261 of the Tax Code, the Parent Entity or matrix present a statement and will include all operations related during the stated period. Effective Jurisprudence
Article 260-9. Interpretation. Effective Jurisprudence
Article 260-10. Transient. The provisions contained in Title I of Book I of the Tax Code, relating to transfer pricing will apply from fiscal year 2004.
control processes relating to transfer pricing will be advanced from 1o. January 2005.
Notwithstanding the above, from the effective date of this Act may be performed prior to the transfer pricing agreements. " Effective Jurisprudence
SURCHARGE BY TAXPAYERS OBLIGED TO DECLARE THE INCOME TAX. The Tax hereby added the following article:
Article 260-11. Surtax by the obligation to declare income tax payers. Believe surcharged by the obligation to declare income tax and additional contributors. This surcharge will be equivalent to the fiscal year 2003 to ten percent (10%) of net income tax determined by said taxable year. Beginning in the fiscal year 2004 this surtax will be equal to five percent (5%) of net income tax of the respective taxable period.
The surtax will be settled here regulated in the respective income statement and be complementary and not deductible or discountable in determining the income tax.
PARÁGRAFO. The surtax that is created in this article is subject for 2003 to an advance of 50% of the value of the same calculated based on the net income tax in the fiscal year 2002, which will be paid during the second half of 2003 within the time limits set by the regulations. Effective Jurisprudence
ARTICLE 30. ASSETS EXCLUDED. Amend section 424 of the Tax Code, which reads as follows:
Article 424. Goods excluded from tax. The following goods sales tax are excluded from tax and therefore no sale or importation cause. For this purpose the current Nandina tariff nomenclature is used:
03.03.42.00.00 03.03.41.00.00 Albacore Tuna Yellowfin Tuna
03.03.45.00.00 common Bluefin
Natural honey 04.09.00.00.00 05.11.10.00.00
bovine semen 06.01 Bulbs, tubers, tuberous roots, crowns and rhizomes, dormant, in growth or in flower; chicory plants and roots other than roots of heading No. 12.12 07.01
Papas (potatoes) fresh or chilled 07.02
Tomatoes fresh or chilled 07.03 Onions, shallots, garlic, leeks and other vegetables (even wild) alliaceous vegetables, fresh or chilled 07.04
Coles, including cabbages, cauliflowers, kohlrabi, kale and similar edible brassicas, fresh or chilled
07.05 Lettuce (lactuca sativa) and chicory, including escarole and endive (cichorium spp.), fresh or chilled
07.06 Carrots, turnips, salad beetroot, salsify, celeriac, radishes and similar edible roots, fresh or chilled 07.07
cucumbers and gherkins fresh or chilled 07.08
vegetables (including wild) pod, unshelled, fresh or chilled 07.09
other vegetables (including wild), fresh or chilled.
07.10 Vegetables (including wild) even if they are cooked in water or steamed, frozen vegetables
07.11 (including wild) provisionally preserved (for example by sulfur dioxide gas, in brine, in sulfur water, or in other substances to ensure preservative solutions), but unsuitable for immediate consumption 07.12
vegetables (including wild) dry, well chopped or sliced or crushed or ground, but not further prepared 07.13
vegetables (including wild) dried leguminous , shelled, whether they are skinned or split 0714 roots
cassava (manioc), arrowroot, salep, Jerusalem artichokes (patacas), sweet potatoes (yams, sweet potatoes) and similar roots and tubers with high starch or inulin content, fresh, chilled, frozen or dried, whole or sliced "pellets"; sago pith
08.01.19.00.00 Fresh Coconuts 08.02 Other nuts, fresh or dried, shelled or peeled 08.03
Bananas, fresh or dried
08.04 Dates, figs , pineapples (ananas), avocado (avocado), guavas, mangoes and mangosteens, fresh or dried and processed food products handcrafted guava based and / or milk.
08.05 Citrus (citrus) fresh or dried
08.06 Grapes, fresh or dried, raisins
08.07 Melons, watermelons and papayas, fresh
08.08 Apples, pears and quinces, fresh 08.09
apricots (apricots, apricots), cherries, peaches (peaches) (including nectarines), plums and sloes, fresh
08.10 other fruit and nuts, fresh coffee beans 09.01.21.10.00
| || 10.01 Wheat and meslin (meslin)
10.06 10.03 Barley Corn Rice 10.06
11.04.23.00.00 threshed corn seeds for sowing 12.09
18.01.00.10.00 Sugar Cocoa raw grain
Bienestarina 19.01 19.05 22.01
Pan bottled water, artificial or natural mineral water and aerated waters, unsweetened or sweetened or flavored otherwise ; ice and snow
25.01 Salt (including table salt and denatured salt) and pure sodium chloride, whether or not in aqueous solution or containing added anti-caking agents or agents to ensure good fluidity; sea water Natural Sulfur
25.03 25.10 Natural calcium phosphates (tricalcium phosphates or phosphorites) unground or ground.
27.01 Coal, briquettes, ovoids and similar solid fuels made from coal 27.04 Coke
, semicoke of coal, lignite, peat pellets or not
27.16 Electricity 28.44.40.00 .00 radioactive material for medical use
29.36 Provitamins and vitamins, natural or reproduced by synthesis (including natural concentrates), derivatives thereof used primarily as vitamins, mixed or whether in any solvent 29.41 Antibiotics
30.01 glands and other organs for organo-therapeutic uses, dried, whether or not powdered; extract glands or other organs or their secretions for organo-therapeutic uses; heparin and its salts; other human or animal substances prepared for therapeutic or prophylactic uses, not elsewhere specified or included elsewhere
3002 Human blood; animal blood prepared for therapeutic uses, prophylactic or diagnostic; antisera (serum antibody), other blood fractions and modified immunological
products, whether or not obtained by biotechnological processes; vaccines, toxins, cultures of microorganisms (excluding yeasts) and similar products
30.03 Medicaments (excluding goods of heading No 3002, 3005 or 3006) consisting of mixed together for therapeutic or prophylactic uses, not in measured doses or put up for retail
30.04 Medicaments (excluding goods of heading 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic uses, or put up the wholesale
lower 30.05 Wadding, gauze, bandages and similar articles (for example, dressings, adhesive plasters, poultices), impregnated or coated with pharmaceutical substances or put up for retail for medical, surgical, dental or veterinary purposes
3006 pharmaceutical goods referred to in Note 4 to this Chapter
oral contraceptives 30.06.00.00 31.01 Guano and other natural fertilizers of animal or vegetable origin, even mixed together, but not chemically processed
31.02 mineral or chemical fertilizers, nitrogenous 31.03 mineral fertilizer
or chemical phosphatic fertilizers or mineral 31.04
31.05 Other potassic chemical fertilizers; products of this title are presented in tablets, lozenges and similar forms or in packages of a gross weight of ten (10) kilograms
38.08 Pesticides and insecticides 38.22.00.11.00 Diagnostic Reagents support
paper or paperboard 38.22.00.19.00 other diagnostic reagents 40.01 Natural rubber
tractor tires 40.11.91.00.00 40.14.10.00.00 Wood Preservatives raw
44.03 ( round, plump or rolo) with or without bark and wood block or just desorillada 44.04
nursery trees for establishment of timberland
48.01.00.00.00 49.02 Newsprint newspapers and periodicals, printed, whether or not illustrated
52.01 cotton fibers 53.04.10.10.00 Pita (cabuya, fique)
53.11.00.00.00 Woven fabrics of other vegetable textile fibers 56.08.11.00.00
Nets & Packaging fishing
59.11 jute, sisal hemp and
63.05 Sacks and bags of jute, hemp and sisal 71.18.90.00.00
legal tender coins 82.01 spades, agricultural hand tools
82.08.40.00.00 knives and cutting blades for machines and mechanical appliances agricultural, horticultural and forestry
84.07.21.00.00 outboard motors, up to 115 HP.
84.08.10.00.00 diesel engines up to 150 HP center.
22.214.171.124.00 Other apparatus 84.32
irrigation systems. Machinery and agricultural, horticultural or forestry appliances preparation or tillage or cultivation; except rollers lawn or sports grounds 84.33
machinery, apparatus and appliances for harvesting or threshing machinery, including presses straw or fodder balers; mowers; machines for cleaning, sorting or grading eggs, fruit or other agricultural produce, other than those of heading 84.37 and subheadings 84.33.11 and 84.33.19
84.36 Other machinery for agriculture, horticulture, forestry or bee-keeping, including germination plant fitted with mechanical or thermal equipment
84.37.10.00.00 Machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables
87.01.90.00.10 agricultural tractors
87.13.10.00.00 wheelchairs and similar equipment, personal propulsion, mechanical or electrical for the mobilization and integration of people with disabilities or elderly.
87.14 87.13.90.00.00 Other tools, parts, accessories, corresponding to wheelchairs and similar to mobilize people with disabilities and seniors headings or classifications 8713 and 87.14 87.16
.20.00.00 trailers for agricultural use 90.01.30.00.00
90.01.40 contact lenses glass lenses for glasses
lenses of other materials 90.01.50.00.00 90.18.39.00.00
peritoneal dialysis catheters 90.21 special devices for orthopedics, prosthetics, rehabilitation, urinary care products, apparatus for access to swimming pools for people with disabilities
9301 military weapons, other than revolvers, pistols and knives
96.09.10.00.00 writing and coloring pencils
Chemical raw materials destined for the production of pesticides and insecticides heading 38.08 and fertilizers of heading 31.01 to 31.05
Equipment infusion fluid and filter for renal dialysis subheading 90.18,39.00.00
The braille printers, braille estereotipadoras, braille, Braille strips, braille arithmetic and drawing boxes, manual or mechanical Braille writing system elements, as well as articles and orthopedic appliances, prostheses and prosthetic articles; all for use by persons, hearing aids and other appliances which are worn itself, or implanted in the body to compensate for a defect or disability and canes for the blind even though they are equipped with technology, content under tariff heading 90.21.
By 2003, personal computers from a single processor, laptop or desktop, enabled Internet use, with preinstalled operating system, keyboard, mouse, speakers, cables and manuals, to CIF value in 1500 dollars (US $ 1,500).
Female contraceptive devices for use
Chemical raw materials destined for the production of medicines of 29.36, 29.41, 30.01, 30.03, 30.04 and 30.06 positions.
Equipment and component elements of the plan of NGV.
1. 73.11.00.10.00 cylinders
Conversion kit 84.09.91.91.00 3. Kits parts (spare parts) 84.09.91.99.00;
84.09.91.60.00 4. 126.96.36.199.00 compressors
5. Suppliers (dispenser)
188.8.131.52,00 6. Parts and accessories suppliers (parts) 90.25.90.00.00
7. Compressor parts and accessories (spare parts) 184.108.40.206.00; 220.127.116.11.00
colicanto bricks and blocks, clay, and based on cement blocks silvocalcáre clay. Effective Jurisprudence
GOODS EXEMPT. Amend section 477 of the Tax Code, which reads as follows:
Article 477. Goods that are exempt from tax. They are exempt from sales tax the following goods:
02.01 Meat of bovine animals, fresh or chilled
02.02 Meat of bovine animals, frozen
02.03 Meat of the porcine species fresh, chilled or frozen.
02.04 Meat of the sheep or goats, fresh, chilled or frozen. 02.06
Edible offal of 02.07 Meat and edible offal of poultry of heading 0105, fresh, chilled or frozen.
02.08.10.00.00 Fresh meat rabbit or hare
03.02 Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 0304
03.03 Frozen fish, excluding fish fillets and other fish meat
heading 0304 0304 fish fillets and other fish meat (whether or not minced), fresh, chilled or frozen
04.01 Milk and cream (cream), not concentrated, not containing added sugar or other sweetening matter otherwise || | 04.02 Milk and cream (cream), with any industrial process concentrated or containing added sugar or other sweetening
04.06.10.00.00 fresh cheese (unripened)
04.07.00.10.00 hatching eggs, and day-old chicks born
04.07.00.90.00 eggs, in shell, fresh 19.01.10.10.00 maternalised
48.20 Milk or humanised school-type notebooks.
Alcohol fuel destined for blending with gasoline for motor vehicles. " Effective Jurisprudence
ARTICLE 32. INSURANCE POLICIES EXCLUDED. Amend section 427 of the Tax Code, which reads as follows:
Article 427. Insurance Policies excluded. They are not subject to the tax policies of life insurance in the branches of individual life, collective, group, personal accident, dealt with Section II of Chapter III of Title 5O. Book 4o. of the Commercial Code, the insurance policies that cover catastrophic illnesses that corresponds hire promoters health agencies where necessary, the insurance policies of foreign education, preschool, elementary, middle, or intermediate, superior and special, national or . Neither are reinsurance contracts dealing Articles 1134-1136 of the Code of Commerce.
ARTICLE 33. IMPORT TAX CAUSING NO. Hereby added Article 428 of the Tax Code literal and the following paragraphs:
"g) Ordinary imports of industrial machinery not produced in the country for processing of raw materials by highly exporting users.
For purposes of this article, rating highly exporting users only require compliance with the requirement under paragraph b) of Article 36 of Decree 2685 of 1999.
For the origin of this benefit, it must be established annually compliance with the amount of exports in the preceding paragraph and imported machinery refers to must remain within equity of the respective importer for a term not less than of its life, but may be transferred them to third parties in any capacity, except when the assignment is made in favor of a leasing company with a view to obtaining financing through a lease.
In case of breach of what is expected, the importer shall refund the sales tax not paid plus penalty interest that may apply and a penalty equal to 5% of the FOB value of the imported machinery. PARAGRAPH 2.
. To qualify for the benefit of that is the literal g) of this Article, the import of machinery by new companies that are formed from the effective date of this Act shall grant rse guarantee under the terms established by the regulations. PARAGRAPH 3.
. In all cases mentioned in this article, to the exclusion of sales tax on import shall be obtained prior to importation required a certificate issued by the competent authority.
PARÁGRAFO 4o. The beneficial under this article shall also apply when the goods referred to therein, are acquired by commercial finance companies, to give them in leasing ".
goods subject RATE OF 7%. Amend Article 468-1 of the Tax Code, which reads as follows:
"Article 468-1. Goods taxed at the rate of 7%. As of 1. January 2003, the following assets are taxed at the rate of 7%: 01.01
horses, asses, mules and hinnies (excluding horses for riding, polo, racing and fine pitch)
06.02 .20.00.00 seedlings for planting
09.01 Coffee roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion, including soluble coffee.
10.01 Wheat and meslin (meslin)
Centeno 10.02 10.04 10.05 Oats
corn for industrial use rice for industrial use 10.06 10.07
Sorghum 10.08 Buckwheat, millet and canary seed ;
other cereals 11.01 Wheat or meslin (meslin)
11.02 Other 11.07 cereal flours
Malta (barley or other grains), including roasted Starches 11.08
11.09 wheat gluten, whether or not dried soy beans 12.01.00.90
12.09.99.90.00 sugar cane seeds
16.01 Sausages and similar products, of meat, offal or blood, food preparations
based on these products 16.02 other prepared or preserved meat, meat offal or blood 16.04
tuna and canned sardines canned
17.01 cane or beet sugar syrups 17.02.30.20.00
glucose 17.02.40.20.00 17.02.30.90.00 other glucose syrups
17.02. 60.00.00 Other fructose and fructose syrup, fructose, containing in the dry state more than 50% by weight
17.03 Molasses from the extraction or refining of sugar 18.03 Cocoa
mass or breads (cocoa mass), even
defatted 18.05 cocoa powder, unsweetened 18.06
Chocolate and other food preparations containing cocoa except chewing gum, chocolates, sweets, candies and chocolates
19.01 food preparations of flour , starch and starch
19.02.11.00.00 uncooked pasta, not stuffed or otherwise prepared, containing eggs
19.05 bakery wares whether or not containing cocoa, except bread
23.09 Preparations of a kind used for feeding animals in Snuff
24.01 Unmanufactured: waste
snuff 27.02 Lignite, whether or not agglomerated, excluding jet
27.03 peat (including peat litter) and their agglomerates
27.09.00.00.00 Petroleum oils and oils obtained from bituminous minerals
53.11.00.00.00 53.08.90.00.00 other fabrics of paper yarn 18.104.22.168.00
pumps air or vacuum pumps, compressors, air or other gas compressors and fans; hoods or recycled, with built-in fan, even with filter, less than 30 kW (40 HP)
22.214.171.124.00 pumps air or vacuum pumps, air compressors or other gas compressors and fans power; hoods or recycled, with built-in fan, even with filter, greater than or equal to 30 kW (40 HP) and less than 262.5 kW (352 HP)
126.96.36.199.00 power or air pumps vacuum, air compressors or other gas compressors and fans; hoods or recycled, with built-in fan, even with filter, exceeding 262.5 kW (352 HP) power
188.8.131.52.00 Compression type units (cooling tanks for the storage of milk) | || 184.108.40.206.00 Dryers by lyophilization, freeze drying, spray, sterilization, pasteurization, evaporation, vaporization and condensation
84.21.11.00.00 220.127.116.11.00 Pasteurizers Skimmers (skimmers)
centrifugas 84.21 .22.00.00 apparatus for filtering or purifying other beverages
84.34 milking machines and machinery for the dairy industry
84.36 other machinery for the poultry industry, including incubators and brooders 84.38 machinery
and apparatus for the preparation or manufacture of food or drink, other than those of subheading 84.38.10
84.85.10.00.00 boat propellers and blades
The original artwork
The fruit of the palm
Matches or matches PARAGRAPH 1.
. As of 1. January 2005, the above assets will be taxed at the rate of 10%. Effective Notes
ARTICLE 35. SERVICES PLEDGES WITH RATE OF 7%. The Tax hereby added the following article:
"Article 468-3. Services taxed at the rate of 7%. As of 1. January 2003, the following services are taxed at the rate of 7%:
1. The service leasing different from those intended for housing and spaces for exhibitions and craft shows national property.
2. Grooming services, monitoring services approved by the Superintendency of Private Security and temporary employment services when rendered by persons authorized by the Ministry of Labour and Social Security enterprises or competent authority, in the part corresponding to AUI (Administration, Contingencies and Utility). This value will be charged to companies belonging to the common system.
3. Prepaid plans and complementary medicine, insurance policies surgery and hospitalization insurance policies and health services in general additional plans in accordance with current standards.
4. Social services workers clubs or sports and pensioners.
5. Storage of agricultural products by bonded warehouses.
6. Commissions directly related to negotiations products of agricultural origin that are made through bags legally constituted agricultural products.
7. The fees received by the placement of health plans prepaid system, issued by the legally authorized by the National Health entities.
8. Accommodation services provided by hotels or lodging establishments, duly registered in the National Registry of Tourism.
9. The service provided by establishments exclusively related to the exercise.
10. Commissions received by stockbrokers for trading. PARAGRAPH 1.
. As of 1. January 2005, the above services will be taxed at the rate of 10%. PARAGRAPH 2.
. As of 1. January 2003, the mobile phone service is taxed at the rate of 20%.
The increase of 4% referred to in this paragraph shall be allocated to social investment and to be distributed as follows:
* 75% for the sector plan development, promotion and development of sport, recreation, sports venues including access in areas of influence thereof, and to the attention of national sports games and national paralympic games, the Olympic and Paralympic commitments cycle to acquire the Nation and the preparation and participation of athletes in all these games and the Single national Calendar.
* The remaining 25% will be rotated to departments and the Capital District to support development programs and sports development, meeting the criteria of the General Participation System established by Law 715 of 2000 and also the development, promotion and development of Colombian culture and artistic activity. Effective Jurisprudence
. Accommodation services provided by establishments not properly registered on the National Register of tourism are taxed at the rate of 7% as of 1.
January 2003. PARÁGRAFO 4o. When a business establishment out joint activities restaurant, cafe, bakery, pastry and / or biscuits are carried, it is understood that the sale is made as restaurant services taxed at the general rate ".
ARTICLE 36 EXCLUDED SERVICES SALES TAX. Modifícanse paragraphs 3, 5 and 8 and three numerals adiciónense Article 476 of the Tax Code, which are as follows:
"3. Interest and financial income from credit operations, provided they are not part of the tax base referred to in Article 447, the fees received by trusts for the administration of mutual funds, commissions received by stockbrokers by the fund management securities commissions received by the investment management companies, leasing (leasing), management services of state funds and services related to social security in accordance with the provisions of Law 100 of 1993 . Also exempt are the fees paid by placement of life insurance and capitalization certificates. Effective Jurisprudence
5. Service leasing of real estate for housing, and the leasing of space for exhibitions and national craft shows, including artistic and cultural events.
8. Mandatory health plans social security system in health issued by authorized by the National Health authorities, the services provided by the managers within the regime of individual saving with solidarity and average premium with defined benefit services provided by administrators professional risk and insurance services and reinsurance for disability and survivors contemplated within the regime of individual saving with solidarity that Article 135 of Law 100 of 1993 refers to different plans prepaid medical and complementary to that referred to in paragraph 3 of Article 468-3. Effective Jurisprudence
19. Food services, contracted with public resources and for prison system, social assistance and public education schools.
20. Domestic air passenger transport to or from domestic routes where there is no organized land transport.
21. Services advertising in newspapers to record advertising sales in December of the year immediately preceding less than three billion pesos ($ 3.000.000.000) (value base 2002 year) 31.
Advertising on radio stations whose sales are less than five hundred billion pesos ($ 500 million) as of December 31 of the preceding year (base year 2002 value) and broadcasters of regional television channels whose sales are less than billion pesos ($ 1.000.000.000) as of December 31 of the preceding year (base year 2002 value). Those exceeding this amount shall be governed by the general rule.
The exclusions provided for in this paragraph not companies arising out of the division of companies that before the issuance of this law conform one dominant company or new companies created or whose parent company apply you are taxed with VAT for this concept. "
ARTICLE 37. RESPONSIBLE FOR SALES TAX. Article 437 is hereby added of the Tax Code with the following wording:
"F) Taxpayers within the common system of Sales Tax, the tax paid on the purchase or acquisition of taxable goods and services listed in Article 468-1, when they are disposed of or provided by individuals no traders who have not registered in the common system of sales tax.
The tax on these transactions will be borne by the buyer or purchaser of the common system shall be declared and recorded in the corresponding to the date of payment or credit account month. The withholding tax may be treated as bankable in the manner provided by Articles 485, 485-1, 488 and 490 of this Statute. On the operations under this subparagraph, whatever the amount, the acquirer will issue the seller the equivalent document to the bill, under the terms specified in the regulations. "
ARTICLE 38. VEHICLES WITH GENERAL RATE. Amend paragraph 1 of Article 469 of the Tax Code, which reads as follows:
"1. Cars and taxis also classifiable under tariff heading 87.03 "taxis.
ARTICLE 39. RATES FOR VEHICLES. A 1st paragraph is hereby added. Article 471 of the Tax Code, as follows:
"Paragraph 1o. As of 1. January 2003, the goods referred to in paragraph 4o. of this article are taxed at the rate of 38%. .
The property referred to in the 3rd paragraph, shall be taxed at the following rates:
At twenty percent (21%) beginning January 1.
July 2003. At twenty percent (23%) beginning January 1.
July 2004. At twenty-five percent (25%) beginning January 1. July 2005. A
imported motor vehicles with cylinder capacity not exceeding 1,400 cc to currently taxed at the rate of thirty-five (35%) on account of sales tax on importation and marketing them reduce this rate as follows:
at thirty-three percent (33%) from the prim ero
July 2003. at twenty-nine percent (29%) from the first of July 2004 .
at twenty-five percent (25%) from the first of July 2005 ".
ARTICLE 40. SPECIAL DISCOUNT SALES TAX. Adiciónese the Tax Code the following article:
"Article 485-2. Special discount sales tax. During the years 2003, 2004 and 2005, those responsible for the common system shall be entitled to deduct the Sales Tax VAT paid on the purchase or importation of industrial machinery.
This discount will be requested within three (3) years from two months in which it is imported or acquired machinery. 50% the first year, 25% the second and 25% in the third year. The value of discountable tax shall in no event exceed the value of the tax by the respective two months. The balances that could not have been deducted at the end of the third year, will be as higher asset value.
In the case of the acquisition or importation of industrial machinery through the system of leasing (leasing), the tenant is entitled to request the discount provided in this article provided in the Indenture there is an irrevocable option to purchase agreed to his favor. Effective Notes
. In the case of the acquisition or importation of industrial machinery by producers of goods excluded, the VAT paid may be treated as a discount on the income tax in the taxable year in which it was acquired or imported machinery. PARAGRAPH 2.
. In the case of the acquisition or importation of industrial machinery by producers or exporters exempt assets, the VAT paid may be treated as tax-deductible in the sales tax in accordance with Article 496 of this Statute. PARAGRAPH 3.
. In the case of the acquisition or importation of industrial machinery by companies that are formed from the date of enactment of this Act, the VAT paid may be treated as discountable tax on sales tax within following the start of the taxable activities three (3) years.
PARÁGRAFO 4o. In any case the benefit provided in this article can be used concurrently with enshrined in Article 258-2 of this Statute. "
ARTICLE 41. DETERMINATION OF SALES TAX ON FINANCIAL SERVICES OPERATIONS AND EXCHANGE. Modifícanse the paragraphs on the 1st. and 2nd. and the 3rd paragraph is added. Article 486-1 of the Tax Code, which are as follows:
"In the case of foreign exchange transactions, the tax will be determined by exchange market intermediaries and those who buy and sell currencies, as provided for in the exchange rules. To this effect the tax base is established there by taking the difference between the rate of sale of currencies of each operation on the date the transaction and weighted average rate of purchase of the respective responsible is made on the last business day before there made purchases of foreign exchange. For the calculation of the tax base is taken into account if the transaction is made in cash, check or through an electronic transfer or money, calculating a weighted average interest rate for each of these modes of transaction. The tax base thus established is multiplied by the tax rate and the amount of disposed currencies.
To exchange operations arising from forwards and futures contracts, the tax is determined by taking the difference between the rate of sale of currencies of each operation on the date the transaction and the purchase rate established in the form is made that the national government to determine which take into account the terms agreed in such operations. The tax base thus established is multiplied by the tax rate and the amount of disposed currencies.
The National Government will establish the methodology for calculating the weighted average exchange rate. "
ARTICLE 42. SIMPLIFIED REGIME MERCHANT RETAILERS. Amend section 499 of the Tax Code is amended as follows:
"Article 499. Simplified Regime for retailers. For all purposes of Sales Tax, VAT, must register with the simplified regime natural persons retailers or retailers whose sales are taxed, they obtained in the year immediately preceding gross revenue from its commercial activity by a value less than four hundred (400) monthly statutory minimum wages and have a business establishment, office, home, business premises or where it does business. " Effective Jurisprudence
ARTICLE 43. SIMPLIFIED SYSTEM FOR SERVICE. Amend section 499-1 of the Tax Code, which reads as follows:
"Article 499-1. Simplified regime for service providers. For all purposes of Sales Tax, VAT, they must register with the simplified regime natural persons providing taxable services, they obtained in the year immediately preceding gross revenue from its activity for a value of less than two hundred (200) wages current minimum legal monthly and have a business establishment, office, home, business premises or where the branches operate.
PARÁGRAFO. Independent professionals who perform operations excluding sales tax, must comply with the formal obligations under Article 506 of the Tax Code. " Effective Jurisprudence
ARTICLE 44. PASSING A COMMON SYSTEM SIMPLIFIED REGIME. Amend section 508-2 of the tax statute, which reads as follows:
"Article 508-2. Step simplified regime common system. When the gross income of a head of sales tax pertaining to the simplified scheme so far during the respective taxable year exceed the ceilings referred to in Articles 499 and 499-1, the head will become part of the common system from the initiation of the next period. " Effective Jurisprudence
Taxing financial transactions.
ARTICLE 45. TAXABLE EVENT OF LEVY TO FINANCIAL MOVEMENTS. Article 871 of the Tax Code is added with the following paragraphs and paragraph changes, which are as follows:
"also constitute event for the tax:
The transfer or transfer in any of the resources or rights collective portfolios, between different co-owners thereof, and the withdrawal of these rights by the beneficiary or settlor, even when such transfers or withdrawals are not directly linked to a movement of a checking account, savings or deposit. In those cases where they are linked to debts of some of these accounts, the entire operation will be considered as a single operative event.
The provision of resources through the so-called collection contracts or agreements or similar financial institutions subscribing to its customers in which there is no provision of resources in a current account or savings deposit.
Debits that are made to financial accounts and other gender, different to current, savings or deposit, for the realization of any payment or transfer to a third party. Effective Jurisprudence
For purposes of the application of this Article, the term collective portfolio stock funds, investment funds, ordinary mutual funds, special mutual funds, pension funds, unemployment funds and generally any entity or group of assets managed by a company legally authorized for the purpose, without legal personality and belong to several people, who are co-owners in aliquots. "
"Parágrafo. For the purpose of this article is meant by financial transaction all available resources from current accounts, savings or deposit involving among others: cash withdrawal by check, checkbook, debit cards, ATM electronic payment points, notes debit or through any other means, as well as the accounting transactions in payment of obligations or transfer of property, resources or rights to any title, including those carried over, collective funds and securities, or the provision of resources set through contracts or collection agreements to this article. This includes debits made on accredited as 'positive credit card balances' and operations through which credit institutions cancel the amount of term deposits by crediting an account "deposits.
ARTICLE 46. TAXABLE
assessment on financial transactions. Amend the first paragraph of Article 875 of the Tax Code, as follows:
"They will be liable to tax on financial transactions users and customers of the entities supervised by the Banking Superintendency of Securities and Solidarity Economy; and entities controlled by these same superintendents, including the Bank of the Republic ".