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HMRC internal manual

Double Taxation Relief Manual

From
HM Revenue & Customs
Updated
, see all updates

DT: Colombia: Underlying Tax

(1) Documents needed to support the underlying tax claim

The accounts showing the profits used to pay the dividend; and the company tax declaration (Declaracion de Impuesto Sobre la Renta) showing the tax payable on the profits used.

(2) Reserves

Relevant profits are reduced by transfers of 10% of the annual net profit to a legal reserve until that reserve is equal to 50% of the subscribed capital.