Colombia's Tax Authority (DIAN) recently issued a ruling that clarifies the value added tax (VAT) payment obligations of taxpayers making annual returns. Under Colombia's VAT rules, taxpayers with revenue below 15,000 UVT in the previous year are required to file a VAT return annually (taxpayers with higher revenue file every two or four months). Although the return is filed annually, installment payments must be made every four months as follows:
- First payment equal to 30% of total VAT paid…