Obligation To Report Tax Information Through Electronic Media

The following persons or entities that on the last day of the taxable year 1999 had a gross equity exceeding Col$2,698,700,000, or had a gross income exceeding Col$5,397,500,000, are obliged to report tax information through electronic media, as follows (Res. 8750/2000, DIAN):

• Legal persons with animus lucrandi that are obliged to file income and complementary tax returns shall report the information established in literal a) of article 631 of the Tax Code.
• Legal persons qualified or not as great contributors, obliged to file income and complementary tax returns or income and equity returns, incorporated as public or private entities, as well as the natural persons obliged to file income and complementary tax returns, shall report the information established in literals e), f), h) and i) of article 631 of the Tax Code.
• Consortiums and temporary unions, and certain public entities of the national and local level, of the centralized and de-centralized order not obliged to file income and equity returns in accordance with article 22 of the Tax Code, shall report the information established in literal e) of article 631 of the Tax Code.

In addition, the economic and/or corporate groups entered in the commercial registry of the chambers of commerce shall report through its head office or controller company the information related with its consolidated financial statements, in accordance with article 631-1 of the Tax Code.

If the head office or the controller company of the economic and/or corporate group does not have a domicile in Colombia, the information will be reported by its branch or subordinated that has the largest net equity (Res. 2014/99, DIAN).

The following tax information shall be reported before the Tax Authority, depending on the compelled person.

• Name and identification number of each person or entity that is shareholder and has 1% or more of the capital of the company, indicating the value of the shares, the contributions or any other corporante right existant on December 31, 2000 (literal a) of art. 631 E.T.; Art. 2 Res. 8750/00, DIAN).
• Name and identification number of each beneficiary of the payments or credits which constitute a cost or a deduction or that grant a right for a discountable tax, including the acquisition of fixed or movable assets when the accumulated value (per beneficiary) for the taxable year 2000 exceeds Col$17,500,000 indicating the concept, the value of the withholding, the value of the withheld VAT, and the value of the discountable VAT. For earnings, social benefits and other labor payments executed during the taxable year 2000, the accumulated value per beneficiary to be reported shall be equal or greater than Col$80,800,000 (Literal e) of art. 631 E.T.; Arts. 3 and 6-11 Res.8750/00, DIAN).
• Name and identification number of each person or entity from whom were received incomes, whenever the accumulated value of the net income for the taxable year 2000 exceeds Col$43,800,000, indicating the liquidated VAT (Literal f) of art. 631 E.T.; Art. 12 Res.8750/00, DIAN).
• Name and identification number of each creditor for any kind of debt, when the debt balance on December 31, 2000 exceeds Col$17,500,000 (Literal h) of art. 631 E.T.; Art. 13 Res.8750/00, DIAN).
• Name and identification number of each debtor for active credits, when the individual value of the credit balance on December 31, 2000 exceeds Col$17,500,000 (Literal i) of art. 631 E.T.; Art. 14 Res.8750/00, DIAN).

In order to deliver the information required in article 631 of the Tax Code and in Resolution 8750 of 2000 issued by the Tax Authority, the compelled persons shall take into account the following expiry dates, in accordance with the last digit of their tax identification number (Art. 3 Res. 477/01, DIAN).

1. Not more than 5% of the ammounts with respect to the information not reported, or reported with errors, or reported after the expiry date.
2. When it is not possible to establish the base in order to calculate the fine, or when the information does not refer to an amount, the fine will not exceed 0.5% of the net incomes. In case there is no incomes, it will not exceed 0.5% of the gross equity of the person or entity, in accordance with the information of the previous year or with the last income tax return or income and equity return, and