Colombia

260. Colombia can legally issue one type of rulings within the scope of the transparency framework: cross-border unilateral APAs and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles.

261. For Colombia, past rulings are any tax rulings within scope that are issued either: (i) on or after 1 January 2014 but before 1 April 2016; or (ii) on or after 1 January 2010 but before 1 January 2014, provided they were still in effect as at 1 January 2014. Future rulings are any tax rulings within scope that are issued on or after 1 April 2016.

262. In the prior years’ peer review reports, it was determined that Colombia’s undertakings to identify past and future rulings and all potential exchange jurisdictions were sufficient to meet the minimum standard. Colombia’s implementation remains unchanged, and therefore continues to meet the minimum standard. In addition, it was determined that Colombia’s review and supervision mechanism was sufficient to meet the minimum standard. Furthermore, during the year in review, a decree was issued providing the new International Taxation Office of the Colombian Tax Administration (DIAN) with the legal competence to assess and conclude APAs (Decree 1742 of 22 December 2020).

263. Colombia has met all of the ToR for the information gathering process and no recommendations are made.

264. Colombia has international agreements permitting spontaneous exchange of information, including being a party to (i) the Multilateral Convention on Mutual Administrative Assistance in Tax Matters: Amended by the 2010 Protocol (OECD/Council of Europe, 2011[4]) (“the Convention”), (ii) bilateral agreements in force with 10 jurisdictions, (iii) multilateral tax agreements in force with three jurisdictions and (iv) tax information exchange agreements with one jurisdiction.1

265. As Colombia was not required to exchange any information on rulings for the year in review, no data on the timeliness of exchanges can be reported.

266. In the prior years’ peer review reports, it was determined that Colombia’s process for the completion and exchange of templates were sufficient to meet the minimum standard. With respect to past rulings, no further action was required. Colombia’s implementation in this regard remains unchanged and therefore continues to meet the minimum standard.

267. Colombia has the necessary legal basis for spontaneous exchange of information, a process for completing the templates in a timely way and complete all exchanges. Colombia has met all of the ToR for the exchange of information process and no recommendations are made.

268. As no rulings were issued, no statistics can be reported.

269. Colombia does not offer an intellectual property regime for which transparency requirements under the Action 5 Report (OECD, 2015[1]) were imposed.

References

[3] OECD (2021), BEPS Action 5 on Harmful Tax Practices - Terms of Reference and Methodology for the Conduct of the Peer Reviews of the Action 5 Transparency Framework, OECD Publishing, Paris, http://www.oecd.org/tax/beps/beps-action-5-harmful-tax-practices-peer-review-transparency-framework.pdf.

[1] OECD (2015), Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance, Action 5 - 2015 Final Report, OECD/G20 Base Erosion and Profit Shifting Project, OECD Publishing, Paris, https://dx.doi.org/10.1787/9789264241190-en.

[2] OECD (ed.) (2017b), Harmful Tax Practices - 2017 Progress Report on Preferential Regimes, OECD Publishing, Paris, http://dx.doi.org/10.1787/9789264283954-en.

[4] OECD/Council of Europe (2011), The Multilateral Convention on Mutual Administrative Assistance in Tax Matters: Amended by the 2010 Protocol, OECD Publishing, Paris, https://dx.doi.org/10.1787/9789264115606-en.

Note

← 1. Participating jurisdictions to the Convention are available here: www.oecd.org/tax/exchange-of-tax-information/convention-on-mutual-administrative-assistance-in-tax-matters.htm. Colombia also has bilateral agreements with Canada, Chile, Czech Republic, India, Korea, Mexico, Portugal, Spain, Switzerland and United Kingdom; multilateral tax agreements with Bolivia, Ecuador and Peru; and a tax information exchange agreement with the United States.

Metadata, Legal and Rights

This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. Extracts from publications may be subject to additional disclaimers, which are set out in the complete version of the publication, available at the link provided.

© OECD 2021

The use of this work, whether digital or print, is governed by the Terms and Conditions to be found at http://www.oecd.org/termsandconditions.