On 17 November 2011, Regulation No. 011963 was issued by the tax administration (Unidad Administrativa Especial Dirección de Impuestos y Aduanas Nacionales – DIAN) adjusting the tax value unit (unidad de valor tributario – UVT) applicable for fiscal year 2012 to COP 26,049.00
The UVT, introduced to unify and facilitate the fulfillment of fiscal obligations, is adjusted annually in accordance with the accumulated variation of the retail price index, as certified by the na…