The deadlines for filing formal transfer pricing duties begin during the month of September

Who is subject to the transfer pricing regime?

All those taxpayers of income tax and its complementary taxes who have registered operations with:

• Foreign economic affiliates; or
• Local economic related parties located in free trade zones; or
• Entities located in non-cooperative jurisdictions of low or no taxation.

Criteria to determine if you are obliged to prepare and file the informative declaration and/or the transfer pricing supporting documentation

The criteria for the determination of the formal transfer pricing obligations are established in articles 260-5 and 260-9 of the Colombian Tax Statute, and are as follows:

1. Transfer Pricing Information Statement:

In accordance with the provisions of Article 260-9 of the ET. Those Colombian taxpayers that have registered operations subject to the transfer pricing regime and that comply with any of the following criteria shall be obliged to prepare and file the informative return:

 * Tax Value Units (2021: 36,308)

1. Proof of transfer pricing documentation.

In accordance with the provisions of article 260-5 of the ET, the transfer pricing supporting documentation is composed of the local report and the transfer pricing master report.

All those taxpayers that are obliged to prepare and file the transfer pricing information return must prepare a local report including the required analyses to validate compliance with the arm's length principle in relation to the following types of operations:

On the other hand, all taxpayers that are required to prepare and file the local transfer pricing report and are part of a Multinational Group must file the master transfer pricing report.