Colombia issues resolution on ultimate beneficial owners

The resolution establishes the criteria for determining the ultimate beneficial owner that should be reported before the Colombian Tax Authority, as well as the information to be reported, the technical requirements for reporting the information and the deadlines for submitting the information. 

On 27 December 2021, the Colombian Tax Authority issued Resolution No. 164, establishing the criteria for identifying the ultimate beneficial owner (UBO) of legal entities or structures without legal…