The National Directorate of Taxes and Customs in Colombia (DIAN) has announced that before the end of this year, it will release a new resolution that will mandate large taxpayers to report and issue electronic invoices. DIAN has already requested feedback from taxpayers and third parties regarding a resolution that would establish the first selective deployment of the Electronic Invoicing in the country. The current version of the resolution aims to include all large taxpayers in Colombia, as defined under Resolution 000076 of December 2016. These 3.5 thousand taxpayers generate more than 70% of Colombia's total tax revenues. Once the Resolution is issued, taxpayers will have three months to start issuing and reporting electronic invoices, except if they issue more than 2.45 million invoices every day, in which case they will have 3 additional months to comply with the mandate. That means that by the end of the first quarter of 2018, most taxpayers should start issuing electronic invoices. By January 1, 2019 all taxpayers will be required to comply with the electronic invoice mandate in Colombia.
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About the Author
Charles Riordan is a member of the Tax Research team at Sovos Compliance specializing in international taxation, with a focus on Value Added Tax systems in the European Union. Charles received his J.D. from Boston College Law School in 2013 and is an active member of the Massachusetts Bar.More Content by Charles Riordan