On March 25, the National Tax and Customs Directorate of Colombia (DIAN, for its acronym in Spanish) published a resolution modifying the deadlines to file tax and exchange information for large taxpayers, legal entities and individuals. In addition, the Bank of the Republic of Colombia (BanRep) issued a circular regulating the contract signed between this entity and the Ministry of Finance to administrate the Savings and Stabilization Fund (FAE), created to address the crisis caused by the COVID-19 pandemic. Both regulations are in force.

The DIAN resolution modifies the deadlines for taxpayers to file their annual tax returns. The document establishes that information produced by large taxpayers in the first quarter should be submitted between May 15 and 29, 2020. For natural and legal individuals, the deadlines are from June 1 to June 30, 2020.

BanRep’s circular aims to ensure that there is adequate coordination, control and security in the execution of operations between that entity and the Ministry of Finance, regarding the procedures governing the administration of autonomous assets known as the “FAE Trust”. This document regulates accounts in the name of the trust, as well as any transfers and withdrawals subscribed to the same.