Colombia´s Recent Tax Developments*

Article prepared to be featured in the upcoming issue of Global Tax Briefing, a CCH – Wolters Kluwer publication, as part of a collection of articles written entirely by members of the Latin American Tax and Legal Network (LATAXNET). LATAXNET, is a network of top tax and legal specialists all over Latin America. For more information about LATAXNET please go to www.lataxnet.net.

Temporary Settlement of Local Taxes Controversies

Congress Act 1328-2009, has authorized settlements of local taxes controversies, e.g., industry and commerce tax, property tax, registration tax, including any disputed penalties and interests. The settlement authorization is only available until January 15, 2010 and exclusively for tax controversies originated before December 31^st, 2008, and already being disputed before the tax courts.