Tax Determination Rules Setup for Colombia
The SuiteTax Latam Engine - Colombia Records SuiteApp provides a set of predefined tax determination rules to calculate Colombian taxes.
Tax determination rules is a custom record type provided by the SuiteTax Latam Engine SuiteApp. The record gathers information about the tax determination process, such as which subsidiaries and items are subject to which tax codes, rates, and effectivity periods. For more information, see Creating Tax Determination Rules in the SuiteTax Latam Engine.
The predefined tax determination rules provided by SuiteTax Latam Engine - Colombia Records are available as CSV files. The files cover the most common business scenarios in Colombia.
You can use the predefined files as examples and templates for you to set up your own tax determination rules. You can also import the predefined rules to your account according to your business needs.
The SuiteApp provides predefined tax determination rules for the following taxes:
-
Impuesto al valor agregado (IVA)
-
Retención en la fuente (RETEFUENTE)
-
Retención de industria y comercio (RETEICA)
-
Retención en la fuente por IVA (RETEIVA)
For each tax, the SuiteApp provides different predefined rules that can apply to the following tax regimes:
-
Gran contribuyente autorretenedor
-
Gran contribuyente no autorretenedor
-
Impuesto a las ventas por pagar
-
No responsable de IVA
Depending on the tax, the rules apply to either goods (bienes declarantes) or services (servicios declarantes).
The predefined tax determination rules include generic information for tax calculation in Colombia. After you import the CSV files and create the tax determination rules records in your account, you must set them up with your company-specific information.
For more information about the predefined tax determination rules for Colombia, see the following topics: