32068783
Description
Mind Map by BRIYID DAYANA PINEDA SUÁREZ, updated more than 1 year ago
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Created by BRIYID DAYANA PINEDA SUÁREZ
over 3 years ago
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WITHHOLDING TAX
- is a mechanism or system of advance collection of income tax and complementary income and
complementary tax, sales tax, national stamp tax and industry and commerce tax, which consists of
subtracting from payments or credits in account a percentage determined by law.
- GENERAL PROVISIONS
- POWER TO ESTABLISH WITHHOLDINGS ART 365 The law authorizes the national government to
establish withholding taxes on those payments or credits in account that are likely to constitute
tax revenue. The purpose of this is to accelerate and ensure the collection of some taxes.
- The DIAN may establish a system of provisional monthly payments by income tax
payers, as an exception regime to the withholding tax system For the purposes of
determining this system, it will be taken into account for the estimation of profits
and gross income of the immediately preceding taxable period.
- The percentages are determined based on the nature of the concept, the amount of
the payment or credit to account and the tax rates in force for taxpayers.
- Art. 366. Power to establish new withholdings. the Government may establish withholding
taxes on payments or credits in account that may constitute tax revenue for the taxpayer of
income tax, made by legal persons and de facto companies. The retention percentages may
not exceed three percent (3%) of the respective payment or credit to the account.
- Art. 367. Purpose of withholding tax. The purpose of withholding tax is to gradually ensure
that the tax is collected as far as possible within the same taxable year in which it is incurred.
- Art. 368. Who are withholding agents. Withholding or collecting agents are entities governed by
public law, investment funds, securities funds, retirement and disability pension funds, consortia,
the organized communities, temporary unions and other natural or legal persons, illiquid
successions and de facto companies, which by their functions intervene in acts or operations in
which they must, by express legal provision, withhold or collect the corresponding tax.
- Art. 368. Who are withholding agents. Withholding or collecting agents are entities governed by
public law, investment funds, securities funds, retirement and disability pension funds, consortia,
the organized communities, temporary unions and other natural or legal persons, illiquid
successions and de facto companies, which by their functions intervene in acts or operations in
which they must, by express legal provision, withhold or collect the corresponding tax.
- Art. 367. Purpose of withholding tax. The purpose of withholding tax is to gradually ensure
that the tax is collected as far as possible within the same taxable year in which it is incurred.
- Art. 366. Power to establish new withholdings. the Government may establish withholding
taxes on payments or credits in account that may constitute tax revenue for the taxpayer of
income tax, made by legal persons and de facto companies. The retention percentages may
not exceed three percent (3%) of the respective payment or credit to the account.
- The DIAN may establish a system of provisional monthly payments by income tax
payers, as an exception regime to the withholding tax system For the purposes of
determining this system, it will be taken into account for the estimation of profits
and gross income of the immediately preceding taxable period.
- POWER TO ESTABLISH WITHHOLDINGS ART 365 The law authorizes the national government to
establish withholding taxes on those payments or credits in account that are likely to constitute
tax revenue. The purpose of this is to accelerate and ensure the collection of some taxes.
- OBLIGATIONS OF THE WITHHOLDING AGENT
- Art. 375. Make the retention
- They are obliged to carry out the withholding or collection of the tax, the
withholding agents who by their functions intervene in acts or operations in which
they must, by express legal provision, make such withholding or perception.
- RECORD THE WITHHELD (ART.
376 TO 377 E.T.).
- The withholding agents will consign in favor of the tax administration the
values withheld within the deadlines indicated by the National Government,
in the entities authorized for their reception.
- LATE CONSIGNMENT (ART. 377 E.T.)
- Failure to record the withholding tax, within the periods indicated by the
Government, will cause interest on arrears, which will be settled and paid
for each month or fraction of a calendar month of delay in payment.
- ISSUE CERTIFICATES (ART. 378 TO 381 E.T.)
- The withholding agents must issue a certification on the concept and
amount of the withholdings they have practiced, so that taxpayers can
make the deduction of the withholdings made in their tax determined in the
income and complementary declarations
- OBLIGATION TO DECLARE (ART.382 E.T.)
- Withholding agents shall Submit monthly statements of
withholdings that had to be made during the respective month.
- Withholding agents shall Submit monthly statements of
withholdings that had to be made during the respective month.
- OBLIGATION TO DECLARE (ART.382 E.T.)
- The withholding agents must issue a certification on the concept and
amount of the withholdings they have practiced, so that taxpayers can
make the deduction of the withholdings made in their tax determined in the
income and complementary declarations
- ISSUE CERTIFICATES (ART. 378 TO 381 E.T.)
- Failure to record the withholding tax, within the periods indicated by the
Government, will cause interest on arrears, which will be settled and paid
for each month or fraction of a calendar month of delay in payment.
- LATE CONSIGNMENT (ART. 377 E.T.)
- The withholding agents will consign in favor of the tax administration the
values withheld within the deadlines indicated by the National Government,
in the entities authorized for their reception.
- RECORD THE WITHHELD (ART.
376 TO 377 E.T.).
- They are obliged to carry out the withholding or collection of the tax, the
withholding agents who by their functions intervene in acts or operations in which
they must, by express legal provision, make such withholding or perception.
- Art. 375. Make the retention
- CONCEPTS SUBJECT TO RETENTION
- Labor income: these are the payments that a worker receives
from an employer as remuneration for their work performed.
- Income from dividends and shares: these are the money that a
person receives as a result of the investment made in a company.
- Financial returns: are the payments or credits in account that a person receives
for the interest, benefits, profits or profits generated by capital returns.
- Fees: are the payments or remunerations that a person receives for the provision of a
service where intellectual knowledge prevails over technical knowledge (liberal professions)
- Commissions: are the amounts of money that a person receives for carrying out a
commercial intermediation operation for third parties.
- Services: are the payments received by a person or company for the provision of a service.
- Rental income: these are the payments received by the lessor of a movable or immovable
property as consideration for allowing the temporary use of the same to another person
called the lessee
- Income from alienation of fixed assets of natural persons: it is the money that a person
receives for the sale of a fixed asset.
- Lotteries, raffles, bets and the like: these are the monies that are obtained as a prize
for participation in games of luck and chance.
- Other tax revenues: These are revenues generated by the execution of various
activities that by law are subject to withholding
- Payments abroad taxed by income tax: the money received by companies and individuals
foreign nationals without residence in Colombia, when such money has been produced by
source national and are subject to withholding in accordance with the provisions of the law.
- Payments abroad taxed by income tax: the money received by companies and individuals
foreign nationals without residence in Colombia, when such money has been produced by
source national and are subject to withholding in accordance with the provisions of the law.
- Other tax revenues: These are revenues generated by the execution of various
activities that by law are subject to withholding
- Lotteries, raffles, bets and the like: these are the monies that are obtained as a prize
for participation in games of luck and chance.
- Income from alienation of fixed assets of natural persons: it is the money that a person
receives for the sale of a fixed asset.
- Rental income: these are the payments received by the lessor of a movable or immovable
property as consideration for allowing the temporary use of the same to another person
called the lessee
- Services: are the payments received by a person or company for the provision of a service.
- Commissions: are the amounts of money that a person receives for carrying out a
commercial intermediation operation for third parties.
- Fees: are the payments or remunerations that a person receives for the provision of a
service where intellectual knowledge prevails over technical knowledge (liberal professions)
- Financial returns: are the payments or credits in account that a person receives
for the interest, benefits, profits or profits generated by capital returns.
- Income from dividends and shares: these are the money that a
person receives as a result of the investment made in a company.
- Labor income: these are the payments that a worker receives
from an employer as remuneration for their work performed.
- GENERAL PROVISIONS
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