2021 TAX REFORM BILL Bill 594 of 2020   On April 15, 2021, the national government submitted to Congress tax reform bill 594 of 2020. Below we summarize the main changes proposed in tax matters[1]:   VAT   Certain services to change their status of exempt services to taxable services   Power, water and sewage,

On February 23, 2021, the President issued the Decree 176 of 2021 (the "Decree") whereby certain rules applicable to the meetings of assembly or meetings of partners of corporations during 2021 were established, including the following: 1. Pending meetings of the year 2020: Pending ordinary shareholders' or partners' meetings that correspond to the accounting year

On October 2, 2020 the Superintendence of Corporations (the "Superintendence") issued Resolution No. 100-006261 (the "Resolution") whereby it repealed Resolutions No. 100-002657 of 2016 and No. 200-000558 of 2018 and established new criteria to determine the corporations that must adopt programs of transparency and business ethics. Criteria for determinig which companies should adopt transparency and

  The Ministry of Commerce, Industry and Tourism (the "Ministry") issued Decree 797 on June 4, 2020 (the "Decree") to temporarily regulate the unilateral termination of business leases by lessees as a consequence of sanitary emergency derived from COVID-19. This rule was especially aimed at all those leases, which due to the health emergency would

The Unified Circular of the Superintendence of Industry and Commerce (the “Superintendence“), states in its numeral 2.3. of Chapter Two of Title Five that, it is the obligation of those responsible for the processing of personal data to update the information registered in the National Registry of Databases (“RNBD”  by its Spanish acronym) annually, between