Colombia modifies transfer pricing regulations increasing the amount of information being required

Tax Insights ()
On December 27, 2013, the Colombian tax authorities issued Decree 3030 which provides further guidance on Colombia's latest tax reform (enacted December 2012) as it relates to transfer pricing requirements.  This Decree increases the amount of information required and compliance burden for taxpayers.  This Decree also extends the time to comply with these requirements for the documentation of 2013 transactions.