The National Taxes Authority (NTA) established, through Resolution 000051 of October 19, 2018, the mechanisms for declaration and payment of VAT for service providers from abroad.
To support the payment of this tax, the NTA authorized the registration in the Unique Tax Registry (RUT) of these providers, through the System of Petitions, Complaints, Claims and _ Suggestions (PCCS) of the web page of the NTA in order to facilitate the process in these cases.
The operators must present the VAT declaration and pay the tax on a bimonthly basis, using the form that the NTA will prescribe for that purpose. The form will be available in Spanish and English and will be of exclusive use for this type of taxpayers.
When service providers from abroad invoice their services in dollars or in other currencies other than the Colombian peso, at the end of each two months, they must consolidate the income generated by the service and the invoiced VAT and then convert them to the Colombian currency. In these cases, the exchange rate representative of the market -TRM- valid on the day of presentation of the declaration, certified by the Financial Superintendence of Colombia, will be taken into account.
Colombian accounting standards is in a process of change to International Financial Reporting Standards (IFRS for its acronym in English), applicable from January 1, 2015.
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The lenders can make the payment in dollars by transfer to an international account of the National Treasury. Likewise, the payment may be made, in Colombian pesos, at banks authorized to collect within the national territory.