Colombia
Vat Registration Thresholds Businesses with gross assets exceeding 4,500 UVT (Unidad de Valor Tributario) or gross income exceeding 1,400 UVT are required to register for VAT.
Vat Rates Standard rate of 19%. Reduced rates of 5% apply to certain goods and services.
Vat Registration Process Businesses register with the National Tax and Customs Directorate (DIAN). Online registration is available through the DIAN website.
Taxable Transactions Sale of goods and services, including imports. Exports are zero-rated.
Registration Exceptions Simplified regime available for small businesses with gross income below 3,500 UVT, subject to certain conditions.
Vat Filing Frequency VAT returns are filed bimonthly or quarterly, depending on the taxpayer's income level.
Exemption Schemes Simplified regime offers reduced compliance requirements for eligible small businesses.