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Act 1731 2014

Original Language Title: LEY 1731 de 2014

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LAW 1731 OF 2014

(July 31)

Official Journal No. 49.229 of 31 July 2014

CONGRESS OF THE REPUBLIC

By means of which measures are adopted in the field of financing for the reactivation of the agricultural, fisheries, aquaculture, forestry and agro-industrial sectors, and other provisions related to the strengthening of the Colombian Agricultural Research Corporation (Corpoica).

Vigency Notes Summary

COLOMBIA CONGRESS

DECRETA:

ARTICLE 1o. OBJECT. This law aims to adopt measures, especially in the field of financing, to promote the reactivation of the agricultural, fisheries, aquaculture, forestry and agro-industrial sectors, and to strengthen the Colombian Corporation. Agricultural Research (Corpoica).

TITLE I.

FINANCING MEASURES FOR THE SECTOR.

CHAPTER I.

FINANCIAL INSTRUMENTS FOR THE DEVELOPMENT OF THE SECTOR.

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ARTICLE 2o. RURAL MICROFINANCE. In order to promote access to credit in the rural sector, and from the available resources, create the Rural Microfinance Fund as a fund without legal status, administered by the Fund for the Financing of the Agricultural Sector (Finagro), as a separate property of its administrator, in order to finance, support and develop rural microfinance in the country.

PARAGRAFO. To constitute the Fund, the National Government will be able to transfer to this fund, for one time, resources to the Fund of the program created by Law 1133 of 2007, and those of the recovery of the current microcredit agreements of the Ministry of Agriculture and Rural Development financed through multilateral banking schemes, as well as those that originate in the General Budget of the Nation, which will be able to joining the Fund once they are incorporated into the Budget, in the terms of the organic rules In the light of the current fiscal framework and the Medium-Term Spending Framework of the agricultural sector, they regulate the matter.

Vigency Notes
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ARTICLE 3o. PROCESSING OF AGRICULTURAL CREDITS. For the purpose of facilitating the processing of agricultural credits, modify the numeral 2 of article 14 of Law 16 of 1990, incorporated in the third indent of article 4 of article 228 of the Organic Statute of the Financial System, which will remain so:

" 2. Approve the policies on the reaccounting credits to Finagro by the entities authorized for the effect. In approving such policies, it shall be taken into account that it is the responsibility of the entities that grant the credits, the assessment of the credit risk and the fulfilment of the requirements laid down in the regulations that are applicable, in particular the issued by the National Agricultural Credit Commission. "

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ARTICLE 4. ALLOCATION OF THE RESOURCES OF THE AGRICULTURAL CREDIT FOR ACTIVITIES OF PROCESSING OF PRODUCTS OF THE SECTOR. Amend the 11th paragraph of article 26 of Law 16 of 1990, incorporated in the literal j) of the article 220 of the Organic Statute of the Financial System, which will remain so:

"-For the establishment of cold chains and in general for the transformation and conservation of agricultural, livestock, apiculture, poultry, fish, aquaculture and forestry products."

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ARTICLE 5o. EXTENSION OF THE OBJECT OF THE NATIONAL AGRICULTURAL RISK FUND AND MEASURES TO FACILITATE THE TAKING OF AGRICULTURAL INSURANCE. For the purpose of promoting the supply of agricultural insurance, and with the resources available from the National Fund The Agricultural Risks that the 1993 Law dealing with, will be administered by Finagro, will be able to co-finance the costs for the technical strengthening of agricultural insurance and the obtaining of information that is not public. For the purposes of the information that rests with public entities, it will have no cost to Finagro and the other entities defined by the National Government, which will also define the conditions of access to it. Similarly, in order to promote risk management in the agricultural sector, subsidies, support or incentives for the implementation of risk management instruments in the agricultural, forestry, fishing and agricultural sectors will be provided. aquaculture, such as climate financial derivatives, price hedges or currency risk. The National Agricultural Credit Commission will regulate these co-financing, subsidies, support or incentives. In any case, the resources approved in the Medium Term Expenditure Framework of the agricultural sector will be taken into account.

The conditions for the insurability of agricultural, forestry, fishing and aquaculture projects, the object of agricultural insurance, will be defined by the National Agricultural Credit Commission.

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ARTICLE 6o. THE AGRICULTURAL GUARANTEE FUND (FAG) AS AN INSTRUMENT TO BOOST THE SECTOR. To develop the Agricultural Guarantee Fund (FAG) as an instrument to boost the agricultural sector for access to financing, amend Article 28 of Law 16 of 1990, incorporated in the number 2 of article 231 of the Organic Statute of the Financial System, which will remain so:

"Article 28. Purpose of the Agricultural Guarantee Fund of Guarantees. The Agricultural Guarantee Fund (FAG) created by Law 21 of 1985, will be used as a specialized fund to guarantee the loans and financial operations to finance projects in the agricultural, fisheries, aquaculture, forestry and rural sectors in general. In the case of non-credit financial transactions, guarantees may only be granted to transactions held in exchanges of goods and agricultural products, agro-industrial products or other commodities, monitored by the Financial Superintendence. of Colombia.

PARAGRAFO 1o. The National Agricultural Credit Commission will determine the economic conditions of the guaranteed users, the individual amount of the loans or transactions that can be guaranteed, the coverage and the Commission Regulation (EU) No No 2013 of the European Parliament For this purpose, small producers will be prioritized, without prejudice to the granting of guarantees to the medium and large, in accordance with the guidelines of agricultural and rural policy.

PARAGRAFO 2o. The guarantees will be issued automatically with the rediscount or registration of the credit or financial transaction to Finagro, and will be automatic and irrevocable when the intermediary complies with the formal requirements for the operational rules of the Fund. There will only be the loss of validity of the guarantee, its non-payment, or the refund to the FAG of the value paid to the financial intermediary, when:

1. The intermediary does not pay the guarantee fee in due time.

2. When the guarantee of the guarantee, the guarantee of the FAG, or its renewal or payment for the obtaining of the credit, the fulfilment of any of the requirements established by the National Commission of Agricultural Credit has been pretermised.

3. The intermediary does not submit in due time, or does not subsane in the intended term for the purpose, before Finagro, the documents required for the payment of the guarantee in the terms of the operational regulations of the FAG, issued by the National Commission de Crédito Agroquario. The power to determine these documents shall not be delegated.

PARAGRAFO 3o. The Guaranty Agricultural Fund (FAG) may grant guarantees individually, globally and/or by limits or portfolio groups of the intermediaries. The National Agricultural Credit Commission may regulate the origin or non-legal collection and recovery of the claimed guarantees, and provide for the creation of guarantee products without recovery or subrogation.

PARAGRAFO 4o. Without prejudice to the provisions of Article 11 of Law 69 of 1993, the FAG may receive resources from public or private entities intended to subsidize the commission by the issue of guarantees in favour of small or medium-sized producers.

CHAPTER II.

OF THE NATIONAL PROGRAM OF AGRICULTURAL REACTIVATION (PRAN) AND THE AGRICULTURAL SOLIDARITY FUND (FONSA).

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ARTICLE 7o. SPECIAL RELIEF TO DEBTORS OF THE NATIONAL PROGRAM FOR AGRICULTURAL REACTIVATION (PRAN) AND THE AGRICULTURAL SOLIDARITY FUND (FONSA). All the debtors of the National Agricultural Recovery Program (PRAN), and others that are dealing with the article 1o of Law 1504 of 2011, and debtors as of December 31, 2013 of the Fund of Agricultural Solidarity (Fonsa) created by Law 302 of 1996, will be able to extinguish their obligations by paying The value that Finagro paid at the time of the payment of the acquisition of the respective obligation. This shall not imply a reduction in the time limit for the payment of the obligations with maturity after that date.

PARAGRAFO 1o. Those debtors who have made capital credits may terminate their obligations by cancelling the difference between the above value and the previously made credits. In the event that the credits made exceed that sum, the debt shall be deemed to be paid in full, without there being any claim for repayment of the amount paid above that value.

PARAGRAFO 2o. Debtors who have received a modification or refinancing of their debt as regulated in the PRAN or Fonsa Programs, will be able to avail themselves of the provisions of this law, in which case they will be reliquidara the refinanced obligation, to determine the value to be paid.

PARAGRAFO 3o. Debtors who wish to avail themselves of this benefit must present peace and, except for life insurance and fees, the latter, when they have been initiated against them. obligations. The programme shall bear all costs and costs other than the fees charged by the debtors.

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ARTICLE 8o. SUSPENSION OF RECOVERY AND PRESCRIPTION FOR DEBTORS OF THE PRAN AND FONSA. Finagro or the entity that covers as an administrator or creditor of the obligations of the PRAN and/or the Fonsa Programs, will refrain from bringing forward its judicial recovery from the the entry into force of this law and until June 30, 2015, a term within which both the actions of recovery and the prescription of the same and their guarantees, in accordance with the Civil Law, will be considered suspended.

PARAGRAFO. The above applies without prejudice to the processing of the consign processes.

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ARTICLE 9o. RECOVERY ACTIONS TO DEBTORS OF THE PRAN AND THE FONSA. However, the suspension of the foregoing article, Finagro or the entity that covers as the administrator or creditor of the obligations of the PRAN and/or the Fonsa Programs, will have the obligation initiating and bringing forward the corresponding recovery actions from 1 October 2014 against debtors who have not benefited from the benefit of the article 7o of this law, if the time limits Due to their obligations, they merit the commencement of recovery.

PARAGRAFO 1o. The processes referred to in this Article shall not be subject to the suspension of the previous article. In any event, the defendant debtor shall retain the benefit for the payment provided for in Article 7o of this law, if it resolves to use the parameters provided therein.

PARAGRAFO 2o. Finagro or the entity that covers as an administrator or creditor of the obligations of the PRAN and/or Fonsa Programs, shall refrain from bringing forward the judicial recovery against a debtor, when the total amount of the Credit by concept of capital for the various obligations in the PRAN or Fonsa Programs, equal to or less than the equivalent in the respective year to six (6) minimum monthly legal salaries in force, in which case only the Preliminary ruling Finagro will be able to conclude fee payment agreements with the attorneys or collection firms that advanced the collection processes covered by this measure.

PARAGRAFO 3o. The securities owed by beneficiaries of the PRAN and Fonsa Programs, which are estimated by Finagro to be irrecoverable due to the impossibility of executive collection or death of the debtor not compensated by the insurance They may be purged from the accounts of the programme, with the obligation, for their purchase value and the other ancillary concepts, to be charged to the statement of results, which shall be covered by the financial returns and the portfolio collections.

PARAGRAFO 4o. With regard to the financial returns and portfolio collections of the PRAN and Fonsa Programs, all of the program's runs and those that will be approved may be covered. In the event that a PRAN programme does not have the resources to cover the expenditure indicated, the other PRAN programmes may be used for this purpose.

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ARTICLE 10. APPLICATION OF PARTIAL CREDITS AND OTHER MEASURES FOR DEBTORS PRAN AND FONSA. Partial credits made during the validity of Laws 1328 of 2009, 1380 2010, 1430 of 2010 and 1504 of 2011, for the debtors of the PRAN, as well as under the provisions of this law for debtors at 31 December 2013 of the PRAN and the Fonsa, may be applied until 30 June 2015 to its obligations, to obtain the benefit of the article 7o of this law, which shall be applied by decreasing the capital of the obligation in the proportion corresponding to the credit made as provided by this law as payment minimum.

PARAGRAFO 1o. The debtors who made the minimum capital payment and insurance premium from the obligation due, under the terms of Laws 1328 of 2009, 1380 of 2010, 1430 of 2010, 1504 of 2011, for the debtors of the PRAN, as well as under this law, for the debtors of the PRAN and the Fonsa Law 302 of 1996, which is found in judicial recovery, subsequently credited the payment of the attorney fees, they will be able to write to them the value of the insurance premiums that have been caused between the minimum payment and the presentation of the peace and except of fees, value that will be assumed by the respective The PRAN programme or the Fonsa, where these values are not reintegrated by the insurer.

PARAGRAFO 2o. For the purpose of reducing the value to be paid for life insurance by debtors, as of the date of entry into force of this law, and until June 30, 2015, Finagro may continue to take the life insurance group debtors on the PRAN or the Fonsa obligations, using as the insured value of each obligation the debtor would have to pay by applying the benefits laid down in this law.

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ARTICLE 11. EXTENSION OF THE OBJECTIVES OF THE FONSA. Amend article 1o of Law 302 of 1996, which will remain so:

"Creation and Targets. Create the Agricultural Solidarity Fund, as a special fund separate from the resources of the Ministry of Agriculture and Rural Development, whose exclusive objective is to provide economic support to small and medium agricultural producers, forestry, aquaculture and fisheries, for the attention and relief of their debts, when in the development of these activities one of the situations referred to in article 2o of this law is present. The holders or integrators of associative credit schemes or strategic alliance schemes, which have been rediscounted or registered with Finagro or granted in general for the sector, will also be beneficiaries of the support provided for in this law. This appropriation is intended to cover the amount of the appropriations entered in the budget for the period referred to in Article 1 (1).

The Ministry of Agriculture and Rural Development will be able to conclude a contract for the administration of the resources of the Agricultural Solidarity Fund, as well as contracts for the administration or purchase of granting of relief to any entity empowered for the purpose, which will be empowered to purchase a portfolio from the public or private credit institutions, as well as the portfolio of the Agricultural Guarantee Fund (FAG).

For the purposes of this law, natural persons who comply with the following conditions shall be considered as a small producer:

(a) That your total assets do not exceed two hundred and fifty current monthly legal minimum wages (250 smlmv) including those of your permanent spouse or partner (a), according to commercial balance. For the case of land reform users, the value of land will not be computable within these total assets;

b) That not less than two thirds (2/ 3) parts of their income come from agricultural and/or fishing activity or that they have at least seventy-five percent (75%) of their assets invested in the agricultural sector, forestry, aquaculture or fisheries, according to the trade balance.

For the purposes of this law, a natural or legal person shall be considered for the purposes of this law, principally for activities related to the production or marketing of the agricultural, forestry, for aquaculture or fisheries, which at the time of applying for support has total assets that do not exceed the seven hundred monthly legal minimum wages in force (700 smlmv), including those of a permanent spouse or partner (a), according to its balance sheet commercial ".

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ARTICLE 12. ENLARGEMENT OF CRISIS SITUATIONS OBJECT OF THE FONSA. Amend article 2o of Law 302 of 1996, which will remain so:

" Crisis situations. The Agricultural Solidarity Fund, in accordance with its availability of resources, will acquire to the financial intermediaries the portfolio of the producers benefiting from this law, or will intervene in the form authorized in this law, when its Board Directive calls for the occurrence of some of the following events, at national level, or in certain areas, departments, regions or municipalities, or for a particular agricultural or fisheries product or activity:

a) A situation of extreme weather or a natural disaster that results in massive production losses;

b) Plant health problems or pests that affect crops or agricultural and fishery products in a general and severe manner, significantly reducing the quality or volume of production, provided that these phenomena are uncontrollable by the individual action of the producers;

c) Notary changes in public order that seriously affect agricultural and fisheries production or marketing;

d) Severe and sustained revenue for producers in terms of the national government.

PARAGRAFO. The Board must establish that the event in question occurred during the production cycle or the marketing period, understanding for this period of ninety (90) days following the termination of the production process ".

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ARTICLE 13. EXTENSION OF THE FUNCTIONS OF THE FONSA. Amend article 4o of Law 302 of 1996, which will remain so:

" Functions. In developing its object and in relation to the agricultural and fishery producers that benefit from this law, the Fund may carry out the following operations in the manner determined by its Board of Directors, with priority in the use of the resources in favour of small producers:

1. Buy in whole or in part credits from the credit institutions, as well as the portfolio of the Agricultural Guarantee Fund (FAG), and agree with the debtors the deadlines and financial conditions of the obligations that it acquires, thus as the form of payment, for which its Board of Directors will point out special conditions of favorability for the benefit of the producer. The purchase of the portfolio shall be made on the basis of technical valuation criteria. In the case of the sale of the Banco Agrario de Colombia S. A., the criteria must also be approved by the Board of Directors of the said credit establishment.

2. To subsidize all or part of the financial costs of the credits granted by the credit institutions.

3. To temporarily invest its resources in debt securities issued by the nation, the Bank of the Republic, credit institutions or other institutions monitored by the Financial Superintendency, when there are surpluses of liquidity.

4. Carry out repurchases of land.

5. To purchase in whole or in part non-financial liabilities for agricultural and agricultural activity and due to third parties on 31 December 2013, and to agree with the debtors on the terms and conditions of the obligations it acquires, as well as the form of payment, for which its Board of Directors will point out special conditions of favorability for the benefit of the producer. The purchase of the portfolio shall be carried out in accordance with the current rules and the technical and valuation criteria defined by the National Government.

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ARTICLE 14. MODIFICATION FUNCTIONS BOARD OF DIRECTORS OF THE FONSA ON PORTFOLIO RECOVERY. Amend article 8o of Law 302 of 1996, which will remain so:

" Portfolio Recovery. Authorize the Board of the Agricultural Solidarity Fund to regulate everything concerning the recovery of the acquired portfolio. The Board of Directors of the Fonsa will be able to determine the value to be paid by the beneficiaries, the periods, periods of death and/or grace, and decide on the extensions of the term or restructurings of the obligations, and the transfer to the beneficiaries of the discounts obtained on the purchase of the same".

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ARTICLE 15. AGREEMENTS FOR THE RECOVERY AND CONSOLIDATION OF AGRICULTURAL HOLDINGS. Given the affectation of the agricultural sector, with the social purpose of facilitating the recovery of small and medium producers, and without prejudice to the provisions of the financial and commercial regulations, applicable to credit institutions, empower the Agricultural Bank of Colombia S. A., and Finagro, as administrator of the Agricultural Guarantee Fund (FAG), to conclude recovery and payment agreements (a) a debt-to-equity portfolio, which is a non-performing portfolio, as defined in paragraph 1 of this Regulation; which may include the remission of current and delinquent interest, as well as capital movements, in the terms and limits set by the National Government by decree of the Ministry of Agriculture and Rural Development, in favor of those who have qualified as small or medium producers at the time of processing the respective credit according to the standard of agricultural credit.

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ARTICLE 16. CREDIT LINE FOR THE PAYMENT OF NON-FINANCIAL LIABILITIES. Autoricese to the National Agricultural Credit Commission to create and define the requirements of a credit line to finance the payment of non-financial liabilities by producers Agriculture, with third parties, destined for financing of agricultural activity, due to 31 December 2013.

The producers referred to in this Article correspond to those defined in Article 11 of this Law.

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ARTICLE 17. FROM THE CAPITAL AND LEGAL NATURE OF FINAGRO. Adapt the following measures in order to stimulate the strengthening of Finagro as an entity that facilitates access to credit in the agricultural sector:

1. The contributions of the shareholders of Finagro different to the Nation and the Banco Agrario de Colombia S. A., will be able to compute as part of the obligatory investment in the Titles of Agricultural Development under the terms that the Board of Directors of the Bank of the Republic.

2. Finagro will continue to be subject exclusively to the own regime of mixed-economy companies not assimilated to that of the State's industrial and commercial enterprises, regardless of the participation of public capital in their assets.

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ARTICLE 18. DEDUCTION, PROVISIONS AND RESERVES OF THE AGRICULTURAL GUARANTEE FUND. amend Article 175 of the Tax Statute, which was added by the article 129 of Law 1607 of 2012, which will remain so:

Article 175. The National Guaranty Fund shall have the right to deduct annually the value of the technical reserves or claims made during the respective exercise. In the same way, the Agricultural Guarantee Fund of Guarantees that deals with Law 16 of 1990 on its provisions and reserves will be ableproceed.

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ARTICLE 19. GRANT OF THE FOREST INCENTIVE CERTIFICATE. To facilitate the financial management of the Forest Incentive Certificate, all the effects that the references to the conclusion of a contract for the granting of the Certificate will have. Forest Incentive (CIF), which deals with Law 139 of 1994, will refer to an administrative act issued by the Ministry of Agriculture and Rural Development, or the entity that this delegate.

TITLE II.

PROVISIONS RELATED TO THE COLOMBIAN AGRICULTURAL RESEARCH CORPORATION (CORPOICA).

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ARTICLE 20. RESOURCES OF THE COLOMBIAN AGRICULTURAL RESEARCH CORPORATION (CORPOICA). The National Government will annually transfer resources from the General Budget of the Nation to the Colombian Agricultural Research Corporation (Corpoica), for the development of its functions in support of the agricultural sector in science, technology and innovation. The Ministry of Agriculture and Rural and Corpoic Development will agree on the goals and results that will be achieved with the resources that are transferred.

Corpoica is an indirect, scientific and technical decentralized public entity of mixed participation, without profit, governed by the rules of private law provided for corporations in the Civil Code, according to the Decree-Law 393 of 1991, Article 96 of Law 489 of 1998, and the laws that modify or replace them.

PARAGRAFO 1o.For the purpose of contributing to improve the productivity and sustainability of the agricultural sector, the definition of the goals and results referred to in this article will consult the needs of the agricultural production systems of rural producers, especially those of small producers, as well as the research requirements of the Colombian Agricultural Institute (ICA), in sanitary and phytosanitary matters.

In case of dissolution and liquidation of Corpoica, all the assets and resources of this Corporation will go to the Ministry of Agriculture and Rural Development or to the entity that does its times.

PARAGRAFO 2o. All public resources that administer or execute via transfer or convention any entity of the Public or Private Order shall have the control and fiscal and administrative surveillance by the Comptroller and the Attorney General's Office.

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ARTICLE 21. AUTHORIZATION FOR THE USE OF BALANCES OF AGREEMENTS. Autoricese to the Public Entities of the National Order that have financed agreements or contracts finalized at December 31, 2012 and whose executor is Corpoica, to yield in favor of such Corporation the non-executed balances of such agreements or contracts for which Corpoica is destined to activities of science, technology and innovation for the agricultural sector.

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ARTICLE 22. TRANSIENT. The nation will allocate from its general budget of the term 2014, the resources necessary to attend to the provisions of this law prior to the compliance with the rules laid down in the Organic Statute of the Budget.

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ARTICLE 23. Add a paragraph to article 771-5 of the Tax Statute, which will be as follows:

" Paragraph 3o. In the case of cash payments made by taxpayers or persons responsible for the agricultural, fisheries, aquaculture and forestry sectors, the graduality provided for in paragraph 1 of this Article shall apply from the next way:

-In the taxable year 2016 the lowest between eighty-five percent (85%) of the paid or a hundred thousand (100,000) UVT, or fifty percent (50%) of total costs and deductions.

-In the taxable year 2017, the lowest between seventy percent (70%) of the paid or eighty thousand (80,000) UVT, or forty-five percent (45%) of total costs and deductions.

-In the taxable year 2018, the lowest between fifty-five percent (55%) of the paid or sixty thousand (60,000) UVT, or forty percent (40%) of total costs and deductions.

-From taxable year 2019, the lowest between forty percent (40%) of the paid or forty thousand (40,000) UVT, or thirty-five percent (35%) of total costs and deductions.

The percentage of 15% (15%) of cash payments without tax recognition as costs, deductions, liabilities or unaccounting taxes, which are made by the contributors mentioned in this paragraph during 2014, will have tax recognition in the income statement for the taxable period 2015.

The graduality provided for in this paragraph may apply only to natural and legal persons whose gross income at 31 December of the year immediately preceding them is less than 92,000 UVT.

For the taxable year 2015, the graduality provided for in paragraph 1o of this article" will not apply.

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ARTICLE 24. SPECIAL CONDITION FOR THE PAYMENT OF TAXES, FEES AND CONTRIBUTIONS. Within the twelve (12) months of the following months unextended to the entry into force of this law, taxable persons, taxpayers or liable for taxes, taxes and contributions from the agricultural and livestock sector, managed by institutions with the power to collect income, fees or contributions from the national level, which are in arrears due to the taxable periods 2010 and have the right to request, only in relation to the obligations arising during such taxable periods, the following special payment condition:

1. If the payment is made out of cash, the total of the principal obligation plus the interest and the penalties updated, for each term and period, shall be reduced to 20% (20%) of the value of the default interest caused up to the date of the corresponding payment and the penalties generated. For this purpose, the payment shall be made within twelve (12) months after the date of this law.

2. If a payment agreement is signed on the total principal obligation plus the updated interest and penalties, for each term and period shall be reduced to 50% (50%) of the value of the default interest to date of the corresponding payment and the penalties generated. For this purpose, the payment shall be made within twelve (12) months after the date of this law.

The provisions contained in this Article may be applied by the territorial authorities in relation to the obligations of their jurisdiction.

To those responsible for the sales tax and withholding agents at the source who are in charge of this article, the criminal action will be extinguished, for which they will have to prove to the competent judicial authority the payment or the subscription of the payment agreement, as the case may be, as referred to in this Article.

PARAGRAFO 1o. The taxable persons, taxpayers, persons responsible and agents for withholding taxes, fees and contributions administered by the entities with the authority to collect income, fees and contributions from the the national or territorial level that is in charge of the special condition of payment of which this article treats and which incurs in arrears the payment of taxes, withholding taxes, fees and contributions within two (2) years after the date of the payment made with a reduction in the value of the interest caused and the penalties, they will lose automatic means this benefit.

In such cases the tax authority will immediately initiate the process of charging 20 percent (20%) or fifty percent (50%), as the case may be, of the penalty and interest caused until the date of payment of the obligation. principal, penalties or interest, and the terms of limitation and limitation shall be started from the date on which the payment of the principal obligation is made.

PARAGRAFO 2o. They will not be able to access the benefits covered by this article by debtors who have signed payment agreements on the basis of Article 7o of Law 1066 of 2006, Article 1o of Law 1175 of 2007 and article 48 of Law 1430 of 2010, that upon the entry into force of this law are in arrears due to the obligations contained in same.

PARAGRAFO 3o. The provisions of paragraph 2o of this article shall not apply to taxable persons, taxpayers, persons responsible and holding agents who, upon entry into force of this law, have been admitted to business restructuring processes or to judicial settlement processes in accordance with the provisions of Law 1116 of 2006, nor to other taxable persons, taxpayers, withholding agents which, at the date of entry into force of this law, would have been admitted to the restructuring processes regulated by Law 550 of 1999, Law 1066 of 2006 and the Performance Conventions.

The taxable persons, taxpayers, persons responsible and holding agents referred to in this paragraph, who do not comply with the payment agreements referred to in this Article shall automatically lose the benefit enshrined in this paragraph. provision. In such cases, the tax authority shall immediately initiate the process of recovery of fifty percent (50%) of the penalty and interest caused up to the date of payment of the principal obligation, penalties or interest, and the terms of the limitation period shall start from the date on which the payment of the principal obligation is made.

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ARTICLE 25. VIGENCIES AND DEROGATIONS. This law governs from its promulgation and repeals all provisions that are contrary to it. This law does not repeal Law 1694 of 2013.

The President of the honorable Senate of the Republic,

JOHN FERNANDO CHRIST BUSTS.

The Secretary General of the honorable Senate of the Republic,

GREGORIO ELJACH PACHECO.

The President of the honorable House of Representatives,

HERNAN PENAGOS GIRALDO.

The Secretary General of the honorable House of Representatives,

JORGE HUMBERTO MANTILLA SERRANO.

COLOMBIA-NATIONAL GOVERNMENT

Publish and comply.

Dada in Bogotá D. C., at 31 July 2014.

JUAN MANUEL SANTOS CALDERÓN.

The Minister of the Interior,

AURELIO IRAGORRI VALENCIA.

The Minister of Finance and Public Credit,

MAURICIO CÁRDENAS SANTAMARIA.

The Minister of Agriculture and Rural Development,

RUBEN DARIO LIZARRALDE MONTOYA.

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