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May 23rd, 2020

Foreign Exchange Rate (TRM) Week 18 to 22 May 2020
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Read the latest news about Covid-19
New deadlines for companies to submit financial statements and other ordinary reports for the year 2019 to the Superintendence of Companies (Superintendencia de Sociedades).

Considering the extension of the Economic, Social and Ecological emergency, the Superintendence of Companies issued new deadlines for, among others, submitting financial statements as of December 31st 2019, the consolidated and combined financial statements as of December 31st 2019 and sending the Report 42 Business Practices as of December 31st, 2019. The new deadlines can be confirmed with the last two digits of the Tax ID (NIT).

Colombian Government amends 2020 tax filing due dates
New dates for the payment of Income Tax return for legal entities classified as small and medium entities. The new deadlines can be confirmed with the last two digits of the Tax ID (NIT).

Biosecurity protocols for manufacturing companies in specific industries.
The Ministry of Health and Social Protection (Ministerio de Salud y Protección Social) issued Resolution 748 adopting the biosecurity protocols for the management and control of Covid-19 in the food and beverages, petrochemical, chemical, non-metallic mineral products and basic metallurgical manufacturing companies. Among others, the protocols are related to human interaction, travel to and from the workplace, and office organization.

Amendments to the support program to formal employment (PAEF for its acronym in Spanish).
Among others, the amendments include new PAEF beneficiaries (individuals, consortiums, and joint ventures, in addition to legal entities who comply with certain requirements), the amount of the State contribution that beneficiaries of the PAEF will receive will be equal to the number of employees multiplied by COP$351.000 and further detail on the calculation method for determining the diminishment of 20% of the beneficiaries income, as an application procedure for PAEF.

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