ACTIVITY 3

CASE STUDY APPLIED TO THE RECOGNITION OF NATIONAL TAXES AND

TERRITORIAL

Dear students:
Below, you will find three cases related to the recognition of national taxes and
territorial. Take a careful and thorough reading of each of these and carry out the causation of
industry and commerce tax (ICA), applying the rate that corresponds in each of the
proposed transactions according to the territory and the proposed case.

Subsequently, take the progress to the tutorial, meet with your team and resolve the case that
assign the teacher according to the requirements requested for each one and that are found
explicit in this document.
Finally, after finishing the tutoring session, submit the resolved case in Excel format for evaluation.
Successes.

First case study applied to the recognition of national taxes

The trading company Los Amigos S.A.S., with NIT number 980396421-2, is a taxpayer that belongs to the
group of managers (common regime), in tax obligations. Their main residence is Bogotá,
and its VAT payment frequency is quarterly. In its accounting, it shows the following information,
which corresponds to the months of March and April of 20XX. The objective is to present the income statement
integral and the financial statement, thus establishing transparently the amount payable for
value added tax (VAT) and withholding tax, when verifying the recognition of other taxes
that are generated in the present case, such as withholdings, self-withholdings, and ICA, among others, the
which will be resumed in unit three.
The initial balances expressed in millions of monetary units, corresponding to the previous period, year 20XX, are
the following:

Authorized capital 120

Capital to be subscribed 60
Subscribed capital to be received 40
Subscribed and paid capital 20
Effect and its equivalent of the effect 10
Inventory of goods 26
Customer debtors 11
VAT on purchases in January and February 19
Lands 200
Buildings 180
Accumulated depreciation of buildings 10
Transport team 100
Accumulated depreciation of transportation equipment 8
Office furniture and equipment 80
Accumulated depreciation of furniture and equipment of
9
office
Computing equipment 10
Depreciation of computer equipment 9
VAT on sales during the months of January and February 25
Long-term financial liabilities 270
Suppliers 190
Legal reserve 11
Utility of the previous period 102

code initial balances

310505 authorized capital $ 120,000,000
310510 capital to be subscribed $ 60,000,000
310515 subscribed capital to be collected $ 40,000,000
3105 subscribed and paid capital $ 20,000,000
11 effect equivalent to the effect $ 10,000,000
14 inventory of merchandise $ 26,000,000
13 debtor clients $ 11,000,000
2408 VAT on purchases $ 19,000,000
1504 lots $ 200,000,000
1516 buildings $ 180,000,000
1504 accumulated depreciation of buildings $ 34,000,000
1516 transport team $ 100,000,000
159235 Accumulated depreciation of transportation equipment $ 8,000,000
1524 Office furniture and equipment $ 80,000,000
159215 Accumulated depreciation of furniture and equipment $ 9,000,000
1528 Computer equipment $ 10,000,000
159220 Depreciation of computer equipment $ 9,000,000
2408 VAT on sales $ 25,000,000
2305 Long-term financial liabilities $ 270,000,000
2205 Providers $ 190,000,000
3305 legal reserve $ 11,000,000
37 utility of the previous period $ 102,000,000

During the months of March and April of the year 20XX, the following operations took place:

March 5: Purchase various goods from a responsible party (common regime), whose address is Medellín.
The purchase amounts to a value of 20 million (u.m.), plus 19% VAT.
CTA NAME DEBT CREDIT
1435 Purchase Merchandise 20,000,000
2408 Deductible VAT Purchase 19% 3,800,000
2365 retention Purchases 2.5% 500,000
2205 Providers 23,300,000
23,800,000 23,800,000
March 7: Submits return of the purchase made on March 5,
equivalent to 3% of the value of the merchandise.
CTA NAME DEBT CREDIT
1435 Purchase Merchandise 600,000
2408 VAT Generated Purchase Return 19% 114,000
2365 Dev. retention Purchases 2.5% 15,000
2205 Suppliers 699,000
714,000 714,000

March 10: Sells various goods to a major taxpayer in Bogotá, for a value of 12 million (currency units).
plus 19% VAT.
CTA NAME DEBT CREDIT
4135 Sale - Income 12,000,000
2408 VAT Generated Sales 19% 2,280,000
1105 Effective and its equivalent 14,280,000
1435 Inventory 12,000,000
6135 Costs 12,000,000
26,280,000 26,280,000

March 13: Pay a responsible person (common regime) for cleaning and security services in Bogotá.
Corresponding to the month of March, according to the contract, for a value of 9 million (currency units).
(Please note that in the contract the AIU of 10% has been agreed.)
CTA NAME DEBT CREDIT
5135 Cleaning and Security Service 9,000,000
5135 AIU 900,000
2408 Deductible VAT Services 5% 45,000
2365 Retention Service Vig. 2% 18,000
1105 Banks - Cash 9,927,000
9,945,000 9,945,000

March 15: Presents a 5% refund of the sale made on March 10.

CTA NAME DEBT CREDIT

4175 Sales Return 600,000
2408 Recoverable VAT on Sales Revenue 19% 114,000
1105 Effect and its equivalent 714,000
1435 Inventory 600,000
6135 Costs 600,000
1,314,000 1,314,000

March 20: Purchase essences and coffee concentrates worth 50 million (currency units), plus VAT.
The supplier's address is Cali. (Check the VAT rate for these products).
CTA NAME DEBT CREDIT
1435 Purchase Essence and Coffee Concentrate 50,000,000
2408 Deductible VAT Purchase 5% 2,500,000
2365 retention Purchases 2.5% 1,250,000
1105 Effect and its equivalent 51,250,000
52,500,000 52,500,000
March 25: Purchase imported goods from a major taxpayer in Medellín.
which are taxed at the general VAT rate, amounting to 20 million (units of measurement).
CTA NAME DEBT CREDIT
1435 Purchase of Imported Goods 20,000,000
2408 Deductible VAT Purchase 19% 3,800,000
2365 retention Purchases 2.5% 500,000
2205 Providers 23,300,000
23,800,000 23.800.000

March 27: Purchase fresh hen eggs from a responsible person (common regime) in Bogotá,
For a value of 15 million (u.m.). (Check the handling of VAT on this product).
CTA NAME DEBT CREDIT
1435 Buy Fresh Eggs 15,000,000
2365 retention Purchases 2.5% 375,000
2368 retention Ica 4.14 62.100
1105 Effective and its equivalent 14,562,900
15,000,000 15,000,000
March 30: Sells coffee essences and concentrates to a major taxpayer residing in Bogotá.
For a value of 10 million (units of measurement), plus VAT. (Check the VAT rate for these products).
CTA NAME DEBT CREDIT
4135 Sale - Income 10,000,000
2408 VAT Generated Sales 5% 500,000
1105 Effect and its equivalent 10,500,000
1435 Inventory 10,000,000
6135 Costs 10,000,000
20,500,000 20,500,000

April 5: Sells fresh chicken eggs to a responsible person

(Common regime) of Bogotá, for a value of 30 million (u.m.). (Check the handling of VAT on this product).
CTA NAME DEBT CREDIT
4135 Sale - Income 30,000,000
1105 Effect and its equivalent 30,000,000
1435 Inventory 30,000,000
6135 Costs 30,000,000
60,000,000 60,000,000
April 10: Purchase various goods from a responsible person (common regime) in Medellín,
for a value of 30 million (currency units), plus 19% VAT.
CTA NAME DEBT CREDIT
1435 Purchase Various Merchandise 30,000,000
2408 Deductible VAT Purchase 19% 5,700,000
2365 retention Purchases 2.5% 750,000
2205 Suppliers 34,950,000
35,700,000 35,700,000

April 12: Pay a responsible person (common regime) for cleaning and security services in Bogotá.
For the month of March, according to the contract, worth 9 million (u.m.).
(Please note that in the contract the AIU of 10% has been agreed upon).
CTA NAME DEBT CREDIT
5135 Cleaning and Security Service 9,000,000
5135 AIU 900,000
2408 Deductible VAT Services 5% 45.000
2365 Retention Service Vig. 2% 18,000
1105 Banks - Cash 9,927,000
9,945,000 9,945,000

April 15: Sells various goods to a major taxpayer in Medellín for a value of 19 million (u.m.)
Plus the 19% VAT.
CTA NAME DEBT CREDIT
4135 Sale - Income 19,000,000
2408 Generated VAT Sales 19% 3,610,000
1105 Effect and its equivalent 22,610,000
1435 Inventory 19,000,000
6135 Costs 19,000,000
41,610,000 41,610,000

April 20: The company buys a brand new pickup truck from a manager (common regime) in Bogotá.
for the distribution of goods, valued at 85 million (u.m.)
(Inquire about the recognition of VAT in acquisition expenses).
CTA NAME DEBT CREDIT
15 Transport Equipment - Vehicle 85,000,000
15 VAT Higher Value 16,150,000
2365 retention Purchases 1% 850,000
2368 Ica retention 6.9 586.500
2120 CXP Financing Companies 99,713,500
101,150,000 101,150,000

April 25: Refund for the purchase made on April 10, equivalent to 3% of the merchandise cost.
CTA NAME DEBT CREDIT
1435 Purchase of merchandise 900,000
2408 VAT Generated Purchase Return 19% 171,000
2365 Dev retention Purchases 2.5% 22,500
2205 Suppliers 1,048,500
1,071,000 1,071,000

April 30: Buys a food packaging machine from a major taxpayer in Bogotá,
For a value of 60 million (u.m.), plus VAT. (Please note the handling of VAT in the purchase of machinery and equipment).
CTA NAME DEBT CREDIT
15 Machinery and Equipment Work 60,000,000
15 VAT Higher Value 11,400,000
2365 retention Purchases 2.5% 1,500,000
2120 CXP Financing Companies 69,900,000
71,400,000 71,400,000

STATEMENT OF FINANCIAL POSITION AS OF APRIL 30

 LOS AMIGOS S.A.S.
NIT.980.396.421-2

Statement of Financial Position

(Expressed in pesos)
Period from January to April year
20XX

Assets
Cash and cash equivalents
21,009,100
Trade debtors and other accounts receivable 11,000,000
Accumulated Deterioration -
Inventories 89,100,000
Current tax assets 3,610,600
Total current assets 124,719,700
Lands 200,000,000
Buildings 180,000,000
Accumulated depreciation of buildings 34,000,000
Machinery and Work Equipment 71,400,000
Computer equipment 10,000,000
Accumulated depreciation of computer equipment (9,000,000)
Office furniture 80,000,000
Depreciation of Office Furniture 9,000,000
Transport Team 201,150,000
Accumulated Depreciation Transportation Equipment (8,000,000)
Total non-current assets 682,550,000
Total assets 807,269,700
Liabilities
Suppliers 269,802,500
Current tax liabilities 6,653,700
Other non-financial liabilities -
Total current liabilities 276,456,200
Overdrafts and loans 270,000,000
Liabilities Financing Companies LP 169,613,500
Deferred tax liabilities -
Total non-current liabilities 439,613,500
Total liabilities 716,069,700
Heritage

Authorized Capital 120,000,000

Capital to be Subscribed (60,000,000)
Subscribed Capital to be Paid 40 million
Legal Reserve 11,000,000
Utility of the Previous Period 102,000,000

Utility of the Period (19,800,000)

Total assets 91,200,000
Total liabilities and equity 807,269,700
 INCOME STATEMENT

LOS AMIGOS S.A.S.

NIT 980.396.421-2

Comprehensive Income Statements

Individual

(Expressed in pesos)

Years ending on April 30th: 20

XX

Ordinary activity revenues 70,400,000

Cost of production and operation 70,400,000

Gross profit -

Other income -
Sales expenses -
Administrative expenses 19,800,000
Other expenses -

Result of operational activities (19,800,000)

Financial income .
Costs for loans -

Net financial cost

-

Profit before taxes (19,800,000)

Expenses for income tax -

Income from continuing activities

(19,800,000)

Another comprehensive result

-
Differences in conversion for operations
foreign
-
 Actuarial gains/losses on benefit plans
defined
-
Net change in the fair value of instruments of
coverage
-
Revaluation of property, plant and equipment
-
Another comprehensive result of the year, net of taxes
-
Total annual integral result

19,800,000

REFLECTION QUESTIONS

1. Why is the recognition of taxes important in the accounting of companies?

The recognition of taxes in the accounting of companies is important because it helps to reflect a
faithful image of the heritage, of the financial situation and of the results of the company, since these are
mandatory charges that individuals and businesses must pay to finance the state.

2. What are companies exposed to if they do not file their tax returns and do not pay taxes?

When companies do not file their tax returns and do not pay their taxes, it first shows a
behavior of lack of solidarity with the rest of society, which leads to showing that it is not just omission
from the tax obligation that is affected but also the absence of social responsibility and are exposed to a
penalty for lateness, for an investigation by the Dian and for a request by the same
You are to present it by imposing a sanction, as its non-compliance generates a tax offense.

3. What are the types of tax obligations that exist in Colombia?

Taxes: the obligation to pay taxes arises from a situation independent of any activity.
relative to the taxpayer

Tax: the obligation to pay taxes based on the actual provision of a public service
individualized in the taxpayer

Special contribution: the obligation to tax you as a generating event of benefits derived from activities
State assets. What is of interest is the increase in the assets of the person obliged to pay.

4. What was your experience in developing the case applied to national tax recognition?
The experience of doing the exercises was good, as it puts into practice what was learned in semesters.
past.
 Second case study, applied to the recognition of national taxes
The company El Chibache, Ltda., with NIT number 800413659-8, is a taxpayer who
belongs to the group of responsible parties (large taxpayer) regarding obligations
taxes. Its main address is Bogotá. The frequency of VAT payments for this
the company is bi-monthly and presents the following information for the months of January and February of
2020. The goal is to present the comprehensive income statement and the statement of financial position.
financial, and thus establish transparently the value to be paid for value-added tax
added (VAT) and withholding at source, when verifying the recognition of other taxes that
are generated in the present case, such as withholdings, self-withholdings, and ICA, among others, the
which will be taken up in unit three.
The initial balances, expressed in millions of currency units, corresponding to the previous period
(year 2019) are the following:X

Social capital 250

Cash and its equivalents 13
Inventory of goods 41
Debtors (clients) 15
VAT credit from the previous period 20
Lands 350
Buildings 450
Accumulated depreciation of buildings 15
Transport team 30
Accumulated depreciation of transportation equipment 11
Office furniture and equipment 195
Accumulated depreciation of furniture and equipment 9
Computer equipment 20
Depreciation of computer equipment 5
Long-term financial liabilities 594
Suppliers 230

ACCOUNTS INITIAL BALANCES

31 Social capital $ 250,000,000
11 Cash and cash equivalents $ 13,000,000
14 Inventory of goods $ 41,000,000
13 Debtors (customers) $ 15,000,000
240805 Credit balance for VAT from the previous period $ 20,000,000
1504 Lands $ 350,000,000
1516 Buildings $ 450,000,000
159205 Accumulated depreciation of buildings -$ 15,000,000
1540 Transport team $ 30,000,000
 159235 Accumulated depreciation of transportation equipment -$ 11,000,000
1524 Office furniture and equipment $ 195,000,000
159215 Accumulated depreciation of furniture and equipment -$ 9,000,000
1528 Computer equipment $ 20,000,000
159220 Depreciation of computer equipment -$ 5,000,000
2305 Long-term financial liabilities $ 594,000,000
2205 Suppliers $ 230,000,000
TOTAL $2,168,000,000

During the months of January and February 2020, the following were presented
operations:
(Remember that they are expressed in millions of monetary units).

January 5: Purchase of various goods from a responsible person (common regime) from the city of
Cali, for an amount of 40 million (u.m.), plus VAT of 19%.

COUNT CONCEPT MUST NEWS

1435 Merchandise not manufactured by the company $ 40,000,000
240805 Sales tax payable VAT $ 7,600,000
2367 Sales tax withheld $ 1,140,000
2365 Withholding tax $ 1,000,000
Industry and Commerce Tax
2368 retained $ 132,000
2205 Suppliers $ 45,328,000

January 7: Generate a refund for the purchase made on January 5, equivalent to 7% of

value of the merchandise.

ACCOUNT CONCEPT SHOULD NEWS

1435 Goods not manufactured by the company $ 2,800,000
240805 Sales tax payable VAT $ 532,000
2365 Withholding tax $ 70,000
2367 Withholding sales tax $ 79,800
Industry and commerce tax
2368 withheld $ 9,240
1110 Banks $ 3,172,960

January 10: Sells various merchandise to a major taxpayer in Medellín for a value of 42
millions (u.m.), plus 19% VAT.

ACCOUNT CONCEPT Must NEWS

4135 Wholesale and retail trade $ 42,000,000
240810 Tax on sales payable VAT $ 7,980,000
 135515 Withholding tax $ 1,050,000
Industry and commerce tax
135518 retained $ 463,680
1110 Banks $ 48,466,320

January 12
Bogotá, corresponding to the month of January, according to the contract, for a value of 10 million (u.m.).
(Please note that the contract has agreed on the AIU of 15%).

Cost $ 10,000,000
AIU 15% $ 1,500,000
$ 11,500,000

ACCOUNT CONCEPT MUST NEWS

5135 Services $ 11,500,000
240805 Sales tax payable VAT $ 285,000
2367 Withholding sales tax $ 42,750
2365 Withholding tax $ 460,000
Industry and commerce tax
2368 withheld $ 37,950
1110 Banks $ 11,244,300

January 15: Presents a 5% refund of the sale made on January 10.

ACCOUNT CONCEPT MUST NEWS

Returns, sales, and discounts on
4175 sales $ 2,100,000
240810 Tax on sales payable VAT $ 399,000
135515 Withholding tax $ 52,500
Industry and commerce tax
135518 retained $ 23,184
1110 Banks $ 2,423,316

January 20: Purchase essences and coffee concentrates worth 60 million (u.m.), plus
VAT. The supplier's address is Cali. (Check the VAT rate for these products).

ACCOUNT CONCEPT MUST NEWS

1435 Merchandise not manufactured by the company $ 60,000,000
240805 Sales tax payable VAT $ 3,000,000
2365 Withholding tax $ 1,500,000
2368 Industry and commerce tax withheld $ 198,000
2205 Suppliers $ 61,302,000
January 25: Purchase imported goods from a large contributor in Medellín, which are
recorded with the general VAT rate, valued at 23 million (u.m).

ACCOUNT CONCEPT MUST NEWS

1435 Merchandise not manufactured by the company $ 23,000,000
240805 Sales tax payable VAT $ 4,370,000
2365 Withholding tax $ 575,000
Industry and commerce tax
2368 withheld $ 253,920
1110 Banks $ 26,541,080

January 27: Buy fresh eggs from a manager (common regime) in Bogotá.
chicken, valued at 15 million (u.m.). (Consult the handling of VAT on this product).

ACCOUNT CONCEPT MUST NEWS

1435 Merchandise not manufactured by the company $ 15,000,000
240805 Sales tax payable VAT $ -
2365 Withholding tax $ 375,000
Industry and Commerce Tax
2368 retained $ 62,100
1110 Banks $ 14,562,900

January 30
Bogotá, for an amount of 15 million (u.m.), plus VAT. (Check the VAT rate for these)
products).

ACCOUNT CONCEPT SHOULD NEWS

4135 Wholesale and retail trade $ 15,000,000
240810 Sales tax payable VAT $ 750,000
135515 Withholding Tax $ 375,000
Industry and Commerce Tax
135518 withheld $ 62,100
1110 Banks $ 15,312,900

February 5: Sells fresh hen eggs to a manager (common regime) in Bogotá.

D.C., for an amount of 40 million (u.m.). (Refer to the management of VAT on this product).

ACCOUNT CONCEPT MUST NEWS

4135 Wholesale and retail trade $ 40,000,000
240810 Sales tax payable VAT $ -
1110 Banks $ 40,000,000

February 10: Purchase various goods from a responsible person (common regime) in Medellín, for
value of 60 million (u.m.), plus 19% VAT.
 ACCOUNT CONCEPT MUST NEWS
1435 Merchandise not manufactured by the company $ 60,000,000
240805 Sales tax payable VAT $ 11,400,000
2365 Withholding at source $ 1,500,000
2367 Withheld sales tax $ 1,710,000
Industry and Commerce Tax
2368 retained $ 662,400
2205 Suppliers $ 67,527,600

February 12: Pay a responsible person (common regime) for the cleaning and security service.
Bogotá, corresponding to the month of February, as per contract, for an amount of 10 million (u.m.).
(Please note that the AIU of 15% has been agreed upon in the contract.)

Cost $ 10,000,000
AIU 15% $ 1,500,000
$ 11,500,000

ACCOUNT CONCEPT SHOULD NEWS

5135 Services $ 11,500,000
240805 VAT payable sales tax $ 285,000
2365 Withholding tax $ 460,000
2367 Withheld sales tax $ 42,750
Industry and commerce tax
2368 withheld $ 37,950
1110 Banks $ 11,244,300

February 15: Sells various goods to a major taxpayer in Medellín for a value of 25
millions (u.m.), plus 19% VAT.

ACCOUNT CONCEPT MUST NEWS

4135 Wholesale and retail trade $ 25,000,000
240810 Sales tax payable VAT $ 4,750,000
135515 Withholding tax $ 625,000
Industry and commerce tax
135518 withheld $ 276,000
1110 Banks $ 28,849,000

February 20: The company buys from a manager (common regime) in Bogotá a
zero kilometer truck, for goods distribution, valued at 90 million (currency units).
(Inquire about the VAT recognition for this type of acquisitions).

ACCOUNT CONCEPT MUST NEWS

1540 Fleet and transport equipment $ 90,000,000
 1540 Fleet and transport equipment $ 17,100,000
2365 Withholding tax $ 2,250,000
2367 Withholding Sales Tax $ 2,565,000
Industry and commerce tax
2368 held $ 621,000
2205 Banks $ 101,664,000

February 25: Refund for the purchase made on February 10, equivalent to 4% of
cost of goods.

ACCOUNT CONCEPTO MUST NEWS

1435 Merchandise not manufactured by the company $ 2,400,000
240805 VAT payable sales tax $ 456,000
2365 Withholding Tax $ 60,000
2367 Withheld sales tax $ 68,400
Industry and commerce tax
2368 retained $ 26,496
1110 Banks $ 2,701,104

February 28: He buys a packaging machine from a major taxpayer in Bogotá.

food, worth 60 million (u.m.) plus VAT. (Please note the handling of VAT for
purchase of machinery and equipment.

ACCOUNT CONCEPT MUST NEWS

1520 Machinery and equipment $ 60,000,000
1520 Machinery and equipment $ 11,400,000
2365 Withholding tax $ 1,500,000
2367 sales tax withheld $ 1,710,000
Industry and commerce tax
2368 held $ 414,000
1110 Banks $ 67,776,000

The following is requested:

The causation or recognition of transactions with special attention to the

Taxes. Check the applicable regulations for each regime and the type of tax.
(VAT, VAT withholding, income withholding tax, self-withholding of income, ICA and
ICA retention, among others).

Trial Balance
COUNT
A CONCEPT MUST NEWS
1110 Banks $ 138,502,284 $ 133,791,896
13551
5 Withholding tax $ 2,050,000 $ 52,500
13551 Industry and Commerce Tax
8 retained $ 801,780 $ 23,184
1435 Merchandise not manufactured by the company
$ 198,000,000 $ 5,200,000
1520 Machinery and equipment $ 71,400,000 $ -
1540 Fleet and transport equipment $ 107,100,000 $ -
2205 SUPPLIERS $ 275,821,600
2365 Withholding tax $ 130,000 $ 9,620,000
2367 Withheld sales tax $ 148,200 $ 7,210,500
Industry and commerce tax
2368 withheld $ 35,736 $ 2,419,320
2408 Sales tax payable VAT $ 27,339,000 $ 14,468,000
4135 Wholesale and retail trade $ - $ 122,000,000
Returns, sales, and discounts on
4175 sales $ 2,100,000 $ -
5135 Services $ 23,000,000 $ -
EQUAL SUMS $ 570,607,000 $ 570,607,000
 WITHHOLDING AT SOURCE
VALUE % TOTAL
PURCHASES $ 342,800,000 2.50%
SERVICES $ 23,000,000 4% $ 920,000
total_to_pay $9,490,000

PURCHASES $348,000,000 2.50% $8,700,000

RETURN
N $ 5,200,000 2.50% $ 130,000
SERVICES $ 23,000,000 4% $ 920,000
$9,490,000
 VAT
19
PURCHASES $123,000,000 $23,370,000
PURCHASES $ 60,000,000 5% $3,000,000
19
SERVICES $ 3,000,000 % $ 570,000

19
RETURN PURCHASE $ 5,200,000 % $ 988,000

EXEMPT PURCHASES $ 15,000,000

EXEMPT SERVICES $ 20,000,000 $ 25,952,000

19
SALES $ 67,000,000 % 12730000
SALES $ 15,000,000 5% $ 750,000

19
RETURN IN SALE $ 2,100,000 % 399000
EXEMPT SALES $ 40,000,000 $ 13,081,000

credit balance -$ 12,871,000

Reflection Questions
1. Why is the recognition of taxes important in accounting?
companies?
It is important as it allows for greater control over the accounts regarding the value of their
taxes and the dates they must be submitted and paid, whether monthly, bimonthly or
quarterly. It is implied that what is being declared in the taxes must
be exactly as registered in the companies' accountings in case there is
an investigation by the tax collection entity.
2. What are companies exposed to if they do not file their tax returns and do not
Do they pay taxes?
The taxpayer is a tax collector for the state, and to that extent, they fulfill a
public function, as it is collecting some money that is not its own, but rather resources
public, and that after collecting them must transfer them to the state.

Article 402 of the Penal Code, which deals with the omission of the withholding or collecting agent,
it establishes that anyone who does not submit the corresponding sums within two months
Following the deadline set by the government, one will incur imprisonment of 48 to 108 months.
The above applies to sales tax, consumption tax, and withholding tax.
and in general for any national or territorial contribution that it is required to collect.
In addition to jail, the taxpayer must pay a fine equal to double the unpaid amounts.
consigned, not exceeding 1,020,000 Uvt.
3. What are the types of tax obligations that exist in Colombia?
TAXES: they are the payments we make as taxpayers, the State collects them in a fund.
common (VAT and Income). A tax does not originate a specific and direct counterpart, such as
a work or service in favor of the taxpayer.
CONTRIBUTIONS: these are the payments made by taxpayers that go to a special fund,
which will be used to finance the works and services intended to benefit exclusively the
taxpayers who are contributing or have contributed to said fund. For example, contributions to SENA
and to the ICBF.

FEES: They are the payments made by the taxpayer for the effective provision of a service.
public that provides a dependency of the State. Among these we have: Arbitrary, Rights
and the actual fees. Such as tolls, airport fees, etc.
4. What was your experience in developing the case applied to recognition of the
national taxes?
It was very good, as it puts to the test the knowledge acquired throughout our
learning and in this case we are put to the test and this makes us seek consultation
down to the smallest detail of each concept taking into account the classification of each company.
Since we were used to working with companies under the common regime or regime
simplified in where it tends to be the most common, but it had not been taken into account the
companies that are classified as large taxpayers and whose tax form is
special and different from the others.

Guidelines
Type of taxpayer
Current regulations
 Third case study applied to the recognition of national taxes
The trading company La Oportunidad S.A.S., with NIT number 890314357-1, is
taxpayer who belongs to the group of responsible parties and is a self-withholder in the
tax obligations Your main residence is Bogotá. The payment frequency of VAT
for this company it is bi-monthly. In its accounting, it presents the following information,
corresponding to the months of May and June 2020. The objective is to present the state
of comprehensive results and the financial position, thus establishing in a way
transparent the amount to be paid for value added tax (VAT) and withholding in the
source, when verifying the recognition of other taxes that are generated in the present
such as withholdings, self-withholdings and ICA, among others, which are
They will resume in unit three.

The initial balances expressed in millions of monetary units, corresponding to the previous period,
year 2019, are the following:

Share capital 400

Effect and its equivalent of the effect 35
Customer debtors 135
Inventory of goods 150
Land 250
Buildings 700
Accumulated depreciation of buildings 30
Transport team 45
Accumulated depreciation of transportation equipment 20
Furniture and office equipment 250
Accumulated depreciation of furniture and equipment
15
office
Computer equipment 32
Accumulated depreciation of computer equipment 10
Long-term financial liabilities 400
Suppliers 640
Legal reserve 30
Utility of the previous period 52

During the months of May and June of the year 20XX, the following were presented
operations:
(Please remember that they are expressed in millions of units.)

May 5: Purchase various goods from a responsible person (common regime), from the city
from Medellín, for an amount of 60 million (u.m.), plus 19% VAT.

ACCOUNT NAME DEBT CREDIT

 $
1435 Purchase Merchandise
60,000,000
$
2408 Deductible VAT Purchase 19%
14,000,000
$
2365 retention Purchases 2.5%
1,500,000
$
2368 Retica 3%
1,800,000
2205 Suppliers $ 70,700,000
$ $
74,000,000 74,000,000

May 7: Presents return of the purchase made on May 5, equivalent to

5% of the value of the merchandise.

ACCOUNT NAME DEBT CREDIT

$
1435 refund
3,000,000
$
2408 VAT Generated Purchase Return 19%
570,000
$
2365 Dev. retention Purchases 2.5%
75,000
$
2368 RETEICA
90,000
$
2205 Suppliers
3,405,000
$ $
3,570,000 3,570,000

May 10: Sells various goods to a major taxpayer in Medellín, for a value of
50 million (u.m.), plus 19% VAT.

Account NAME DEBT CREDIT

$
4135 Sale - Income
50,000,000
$
2408 VAT Generated Sales 19%
9,500,000
$
1355 source network
1,250,000
$
1355 reticulate
1,500,000
$
1105 Cash and cash equivalents
56,750,000
$
1435 Inventory
50,000,000
$
6135 Costs
50,000,000
$ $
 109,500,000 109,500,000

May 12: Pay, to a responsible person (common regime), for cleaning and security services,
Bogotá D.C., corresponding to the month of May, according to the contract, for the value of 12 million.
(u.m.). (Please note that the contract has established a 10% AIU).

ACCOUNT NAME DEBT CREDIT

5135 Cleaning and Surveillance Service
$
12,000,000
$
5135 AIU
1,200,000
$
2408 Deductible VAT Services
2,280,000
$
2365 Retention Service 4%
480,000
$
1105 Banks - Cash
15,000,000
$
$ 15,480,000
15,480,000

May 15: Presents a refund of 2.5% of the sale made on May 10.

ACCOUNT NAME DEBT CREDIT

4175 return in sale $
1,250,000
2408 VAT 19% $
237.500
1355 Source Network $
312.500
1355 reteica $
37.500
1105 box $
1,137,500
1435 inventory $
1,250,000
6135 costs $
1,250,000
$ $
2,737,500 2,737,500

May 20 - Purchase of coffee essences and concentrates worth 60 million.

(u.m.), plus VAT. The supplier's address is Cali. (Check the VAT rate for these
products).

ACCOUNT CONCEPT DEBT CREDIT

1435 Merchandise $
60,000,000
 2408 tax 5% $
3,000,000
2365 Withholding tax $
1,500,000
2368 Industry and commerce tax withheld $
3,600,000
2205 supplier $
57,900,000
$ $
63,000,000 63,000,000

May 25: Buys imported goods from a major taxpayer in Medellín,

recorded with the general VAT rate, amounting to 28 million (u.m.).

ACCOUNT CONCEPT DEBT CREDIT

1435 Merchandise $
28,000,000
2408 tax $
5,320,000
2365 Withholding Tax $
700,000
2368 Withholding tax on industry and commerce $
840,000
1105 box $
31,780,000
$ $
33,320,000 33,320,000

May 27: Buys fresh eggs from a responsible person (common regime) in Bogotá
of chicken, worth 25 million (u.m.). (Inquire about the handling of VAT in this
product).

COUNT CONCEPT DEBT CREDIT

1435 Merchandise $
25,000,000
2408 tax 0%
2365 Withholding tax $
625,000
2368 Industry and commerce tax withheld $
750,000
1105 box $
23,625,000
$ $
25,000,000 25,000,000
May 30: Sells essences and concentrated coffee to a major contributor, with
address in Bogotá, for an amount of 25 million (u.m.), plus VAT. (Check the VAT rate)
for this product).

CTA NAME DEBT CREDIT

$
4135 Sale - Income
25,000,000
$
2408 VAT Generated Sales 5&
1,250,000
$
1355 network Source
625,000
$
1355 Reteica
1,500,000
$
1105 Effect and its equivalent
24,125,000
$
1435 Inventory
25,000,000
$
6135 Costs
25,000,000
$ $
51,250,000 51,250,000

June 5: Sell fresh chicken eggs to a responsible party (common regime) of

Bogotá, for a value of 24 million (u.m.). (Consult the management of VAT on this product).

Count NAME DEBT CREDIT

$
4135 Sale - Income
24,000,000
$
1355 network Source
600,000
$
1355 glider
720,000
$
1105 box
22,680,000
$
1435 Inventory
24,000,000
$
6135 Costs
24,000,000
$ $
48,000,000 48,000,000

June 10: Buys various goods from a responsible person (common regime) of
Medellín, for a value of 70 million (u.m.), plus 19% VAT.

ACCOUNT Name Debt Credit

$
1435 Merchandise not manufactured by the company
70,000,000
 240805 VAT $
13,300,000
2365 Retention in the source $
1,750,000
2368 Industry and commerce tax withheld $
2,100,000
2205 Suppliers $
79,450,000
$ $
83,300,000 83,300,000

June 12: Pays a responsible person (common regime) for cleaning and security services.
in Bogotá, corresponding to the month of June, according to the contract, for a value of 12 million
(u.m.). (Please note that the contract has established an AIU of 10%).

ACCOUNT NAME DEBT CREDIT

5135 Cleaning and Surveillance Service
$
12,000,000
$
5135 AIU
1,200,000
$
2408 Deductible VAT Services
2,280,000
$
2365 Retention Service 4%
480,000
1105 Banks - Cash $ 15.000.000
$
15,480,000 $15,480,000

June 15: Sells various goods to a major taxpayer in Medellín for a value of
25 million (currency units), plus 19% VAT.

ACCOUNT NAME DEBT CREDIT

4135 sale $
25,000,000
2408 VAT $
4,750,000
1355 Reteica $
750,000
1355 Source network $
625,000
1105 box $
28,375,000
1435 Inventory $
25,000,000
6135 Cost $
25.000.000
 $ $
54,750,000 54,750,000

June 20: The company buys from a manager (common regime) in Bogotá, a
zero kilometer truck, for goods delivery, valued at 100 million (currency units).
(Inquire about the recognition of VAT in this type of purchases).

ACCOUNT NAME DEBT CREDIT

1540 Truck $
100,000,000
2408 VAT $
19,000,000
2365 Network source $
1,000,000
2368 Reteica $
4,500,000
2305 accounts payable $
113,500,000
$ $
119,000,000 119,000,000

June 25: Refund for the purchase made on June 10, equivalent to 3.5%
of the cost of the merchandise.

ACCOUNT NAME DEBT CREDIT

1435 Refund on purchase $
2,450,000
2408 VAT $
465.500
2365 Network source $
61.250
2368 Reteica $
73.500
2205 Suppliers $
2,780,750
$ $
2,915,500 2,915,500

June 30: Buys a packaging machine from a major contributor in Bogotá.

of food, worth 80 million (u.m.), plus VAT. (Please note the handling of the
VAT on the purchase of machinery and equipment.

ACCOUNT NAME DEBT CREDIT

1520 Machinery $
80,000,000
2408 VAT $
 15,200,000
2365 Source Network $
2,000,000
2368 Network ica $
3,200,000
2305 accounts payable $
90,000,000
$ $
95,200,000 95,200,000
The following is requested:

The causation or recognition of transactions with special attention to

the taxes. Check the regulations applicable to each regime and to the type of
tax (VAT, VAT withholding, withholding at source for income, self-withholding
rental, ICA and ICA withholding, among others).

Reflection questions

Why is the recognition of taxes important in accounting?

the companies?
As we all know, taxes are contributions that each person, family or
the company must pay the State to cover collective needs,
thus contributing a part of their income. This means that the
companies as such when recognizing taxes in their accounting know how they are
the budgets, the movements, and as such the responsibilities or liabilities that
they have, it is a fundamental part of all accounting.
keeping the accounting in a company helps to know the state of the business thus
how to fulfill obligations to the State.

What are companies exposed to if they do not submit their tax returns and
Don't they pay taxes?
If they do not present and do not pay as such, they are exposed to monetary sanctions and closure.
from the company, non-deductible late interest, fines, surcharges, audits
and, in extreme cases, even prison sentences
What are the types of tax obligations that exist in Colombia?
Special contribution for the administration of justice

Burden on financial transactions

Wealth tax
Income tax and complementary special regime
Income tax and complementary ordinary regime
Income and wealth
Withholding tax on income
National stamp retention
Withholding tax on sales tax
Customs user
Common regime sales
Simplified regime sales
Major taxpayer
Exogenous informant
Withholding author
Obligation to invoice for excluded goods or services revenue
 Currency buying and selling professionals
Transfer pricing
Producer of exempt goods or services
Obtaining NIT
Declare entry or exit of foreign currency or legal tender from the country

Obligation to declare in the name of third parties

Withholding agent in sales

Consolidated transfer pricing declaration
Individual transfer pricing declaration.

What was your experience in developing the case applied to recognition of the
national taxes?

Guidelines

Type of taxpayer

Current regulations