Share with your friends

Colombia: Information reporting requirements about transactions with third parties, clients

Colombia: Information reporting requirements

Certain taxpayers (both individuals and legal entities) have reporting obligations for the 2018 tax year concerning transactions with third parties (including clients).


Related content

The information is to be reported to the tax authority (DIAN). There are threshold amounts of revenue for those taxpayers required to report the information about their transactions (if a legal entity, reporting is required if total revenue for 2016 is greater than 100 million pesos, and for natural persons, if total revenue for 2016 exceeding 500 million pesos as well as other criteria).

There are guidelines for how to report the information (that is, in what field on the form). All Colombian legal entities and permanent establishments (subsidiaries) must report using form 5253, certain information about the ultimate beneficiaries (that is, those persons who have effective control over the company or its operations in the country). Failure to comply may result in penalties.

Read a 2019 report (Spanish) prepared by the KPMG member firm in Colombia

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in 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 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal