{"id":550,"date":"2020-07-23T10:51:06","date_gmt":"2020-07-23T10:51:06","guid":{"rendered":"https:\/\/teextile.com\/?p=550"},"modified":"2020-07-23T10:51:06","modified_gmt":"2020-07-23T10:51:06","slug":"finer-balances-for-sales-tax","status":"publish","type":"post","link":"https:\/\/teextile.com\/finer-balances-for-sales-tax\/","title":{"rendered":"Finer Balances for Sales Tax"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The general rule, then, is that the VAT must be caused and collected at the time of sale or provision of the service, it should not be done before or after. If the product was sold on October 15, it is the October 15 in which the VAT must be caused, invoiced and collected, even if the payment is made later.<\/span><\/p>\n<p><b>Responsible for sales tax<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Article 437 of the tax statute indicates who are responsible for the sales tax, understanding as responsible the people or companies that collect it, collect it and transfer it to the Dian&#8217;s accounts, and there it indicates that those responsible for this tax are the merchants and importers, and those who provide services taxed with the VAT. In the <\/span><a href=\"https:\/\/taxfyle.com\/sales-tax-calculator\/\"><b>sales tax calculator<\/b><\/a><span style=\"font-weight: 400;\"> this is important.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In summary, it can be said that all legal and natural persons who sell products or provide taxed services are responsible for Sales Tax.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">For the purposes of the responsibility of the sales tax , the state classified them into two groups:<\/span><\/li>\n<\/ul>\n<p><b>Sales tax rates<\/b><\/p>\n<p><span style=\"font-weight: 400;\">In Colombia, the VAT has several rates, some higher than others and even a 0% rate for so-called exempt products.<\/span><\/p>\n<p><b>General VAT rate<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The general VAT rate is 19 as provided in article 468 of the tax statute modified by law 1819 of 2016.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It means that all the products and services taxed with the VAT have a rate of 19% except those that have expressly indicated that they have a different rate.<\/span><\/p>\n<p><b>Differential rates<\/b><\/p>\n<p><span style=\"font-weight: 400;\">For social and economic reasons, among others, the state has set special or different VAT rates from the general rate of 19 some lower and others higher.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These are mainly products that belong to the family basket and products of first necessity or impact in certain sectors of the economy for which the state wants to make special treatment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Within the 5% rates there are also one services that you can find in article 468-3 of the tax statute.<\/span><\/p>\n<p><b>Other fees<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The other differential taxes that had VAT were eliminated with Law 1819 of 2016 and instead the consumption tax was created, the rates of which are found in article 512-2 and following of the tax statute.<\/span><\/li>\n<\/ul>\n<p><b>Goods exempt from sales tax<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Remember that exempt goods are taxed at a rate of 0%, which entitles the person responsible to deduct the VAT that he has paid at the time of acquiring said products.<\/span><\/p>\n<p><b>Service excluded from the sales tax\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are a series of services that are excluded from the VAT according to article 476 of the tax statute.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Difference between taxed, exempt and excluded assets<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The taxed goods or services are those that are subject to a certain rate, either the general or differential.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Exempt assets are those assets that are taxed at a rate of 0% (zero).<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The excluded assets are those that by express legal provision are not subject to the tax.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The main difference is that exempt goods give the right to deduct the tax paid for their inputs, raw materials and other direct and indirect costs, while the excluded goods cannot do so, the VAT they pay for any concept must carry it as a higher cost or expense value.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The general rule, then, is that the VAT must be caused and collected at the time of sale or provision of the service, it should not be done before or after. If the product was sold on October 15, it is the October 15 in which the VAT must be caused, invoiced and collected, even if the payment is made later. Responsible for sales tax Article 437 of the tax statute indicates who are responsible for the sales tax, understanding as responsible the people or companies that collect it, collect it and transfer it to the Dian&#8217;s accounts, and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finer Balances for Sales Tax - Teextile<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finer Balances for Sales Tax - Teextile\" \/>\n<meta property=\"og:description\" content=\"&nbsp; The general rule, then, is that the VAT must be caused and collected at the time of sale or provision of the service, it should not be done before or after. If the product was sold on October 15, it is the October 15 in which the VAT must be caused, invoiced and collected, even if the payment is made later. Responsible for sales tax Article 437 of the tax statute indicates who are responsible for the sales tax, understanding as responsible the people or companies that collect it, collect it and transfer it to the Dian&#8217;s accounts, and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"Teextile\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-23T10:51:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/teextile.com\/wp-content\/uploads\/2020\/03\/c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul Petersen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Paul Petersen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/\",\"url\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/\",\"name\":\"Finer Balances for Sales Tax - Teextile\",\"isPartOf\":{\"@id\":\"https:\/\/teextile.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/teextile.com\/wp-content\/uploads\/2020\/03\/c.jpg\",\"datePublished\":\"2020-07-23T10:51:06+00:00\",\"dateModified\":\"2020-07-23T10:51:06+00:00\",\"author\":{\"@id\":\"https:\/\/teextile.com\/#\/schema\/person\/3d73e2db9203c5281caae23d9dd4f28c\"},\"breadcrumb\":{\"@id\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/#primaryimage\",\"url\":\"https:\/\/teextile.com\/wp-content\/uploads\/2020\/03\/c.jpg\",\"contentUrl\":\"https:\/\/teextile.com\/wp-content\/uploads\/2020\/03\/c.jpg\",\"width\":800,\"height\":533},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/teextile.com\/finer-balances-for-sales-tax\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/teextile.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Finer Balances for Sales Tax\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/teextile.com\/#website\",\"url\":\"https:\/\/teextile.com\/\",\"name\":\"Teextile\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/teextile.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/teextile.com\/#\/schema\/person\/3d73e2db9203c5281caae23d9dd4f28c\",\"name\":\"Paul Petersen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/teextile.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/94622c5e45434c7b4c8732bcf24433e8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/94622c5e45434c7b4c8732bcf24433e8?s=96&d=mm&r=g\",\"caption\":\"Paul Petersen\"},\"url\":\"https:\/\/teextile.com\/author\/paul-petersen\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Finer Balances for Sales Tax - Teextile","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/teextile.com\/finer-balances-for-sales-tax\/","og_locale":"en_US","og_type":"article","og_title":"Finer Balances for Sales Tax - Teextile","og_description":"&nbsp; The general rule, then, is that the VAT must be caused and collected at the time of sale or provision of the service, it should not be done before or after. 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