Parameter Types for Colombia

The SuiteTax Latam Engine - Colombia Records SuiteApp includes parameter types that enable you to modify tax calculation for Colombia.

To use the parameter types:

Associate the parameter type with a tax determination settings or tax code record.

For some parameters, you may also need to set a value when associating them with these records. For more information, see the following help topics:
- Creating Tax Determination Settings in the SuiteTax Latam Engine
- Adding Tax Parameters to a Tax Code
Make sure your SuiteTax Latam Engine plug-ins consider the parameter type when determining taxes.

By default, SuiteTax Latam Engine - Colombia Records's plug-ins support the predefined parameter types.
Verify if the SuiteTax Latam Engine plug-ins require other settings to consider the parameter type.

For example, some parameter types only work if their rules have parent rules. For more information, see SuiteTax Latam Engine Plug-ins for Colombia.

If you don't meet the requirements or decide not to use parameter types, NetSuite calculates taxes without applying the parameter-specific adjustments.

See the following table for more information about the predefined parameter types for Colombia. The table shows which taxes each parameter applies to, and whether you must enter a value for them.

Parameter Type	Tax Code	Parameter Value	Available For
IVA as Tax Basis	RETEIVA_CO	—	Tax determination rules
UVT	IVA_CO RETEFUENTE_CO RETEICA_CO RETEIVA_CO	Required. The number of Unidad de Valor Tributario (UVT) that corresponds to the minimum amount required to apply the tax to an item. If the item's amount is below the UVT threshold, the tax isn't calculated. Note: To enable NetSuite to calculate the total UVT applicable, define the UVT value. For more information, see Defining the UVT Value for Colombia.	Tax code

Parameter Type

Tax Code

Parameter Value

Available For

IVA as Tax Basis

RETEIVA_CO

—

Tax determination rules

UVT

IVA_CO

RETEFUENTE_CO

RETEICA_CO

RETEIVA_CO

Required. The number of Unidad de Valor Tributario (UVT) that corresponds to the minimum amount required to apply the tax to an item. If the item's amount is below the UVT threshold, the tax isn't calculated.

Note:

To enable NetSuite to calculate the total UVT applicable, define the UVT value. For more information, see Defining the UVT Value for Colombia.

Tax code

For more information about parameter types in general, see Creating Parameter Types in the SuiteTax Latam Engine.

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