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On December 14, the Financial Crimes Enforcement Network (“FinCEN”) issued a request for information (“RFI”), seeking comment on ways to “streamline, modernize, and update” the...
15 July 2021 Baker & McKenzie Colombia S.A.S To print this article, all you need is to be registered or login on Mondaq.com. Do you want to compare other jurisdictions?... Click here 1 Legislative framework The Colombian Tax Code (Law 2010/2019); Unique Tax Decree 1625/2016; and All enforceable double taxation treaties. 1.2 Do any special regimes apply to specific individuals (eg, foreign nationals; temporary residents)? Foreign nationals or temporary residents are subject to income tax only on Colombian sou...
To embed, copy and paste the code into your website or blog: Eighth Blog Post in an Extended Series on Legislative Changes to the BSA/AML Regulatory Regime As we have blogged, the Anti-Money Laundering Act of 2020 (“AMLA”) contains major changes to the Bank Secrecy Act (“BSA”), coupled with other changes relating to money laundering, anti-money laundering (“AML”), counter-terrorism financing (“CTF”) and protecting the U.S. financial system against illicit foreign actors. In this post, we review several provisions of the AMLA section entitled “Modernizing the Anti-Money ...
How does an individual become taxable in your jurisdiction? An individual is subject to income tax in Colombia owing to residence status or upon deriving Colombian source income. Non-residents Non-residents are subject to income tax only on source income and they are only required to report income or assets derived or located in Colombia. Colombian source income refers to income from activities undertaken within Colombian territory and certain activities rendered from abroad. Applicable law refers to this as the provision of services inside Colombian territory, the transfer of assets ...