Colombia: New deadlines for transfer pricing documentation
Informative declaration, CbC notification, Local file, Master file, CbC report
Informative declaration, CbC notification, Local file, Master file, CbC report
Decree 2229 of 22 December 2023 established new deadlines for submitting the various required forms of transfer pricing documentation (i.e., informative declaration, country-by-country (CbC) notification, Local file, Master file, and CbC report) for tax year 2023 and later, which now fall between the 7th and 16th business day of September of the corresponding year.
This represents a significant change given that, in previous years, the deadlines for submitting transfer pricing documentation fell in December.
Note that taxpayers who are not required to submit an informative declaration but are part of a multinational group must submit a CbC notification, which like the CbC report, is due the 10th business day of December.
Read a January 2024 report (Spanish) prepared by the KPMG member firm in Colombia
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.