Flash news - Weekly news from Colombia on finance
Flash news - Weekly news from Colombia on finance

1. On February 21st, 2023, the Superintendency of Companies published its Accounting Information Newsletter corresponding to the second semester of FY2022, which summarizes the main news and concepts in accounting matters of this entity.

This newsletter collects key information on the following:

  • The updating of the accounting guidance guidelines issued by the entity.
  • The socialization of the Basic Accounting Circular carried out at Universidad Militar Nueva Granada.
  • The Banco de la República's Concepts and tax doctrine issued by the DIAN regarding crypto assets.
  • And other accounting concepts.

See: https://jadelrio.com/Colombia/Flash27/1.Boletin-Contable-2022-Semestre.pdf 


2. On February 28th, 2023, some former Technical Councilors of Public Accounting - for its acronym in Spanish (CTCP) sent their comments on the project to reform the accounting profession to the Ministry of Commerce, Industry and Tourism - for its acronym in Spanish (MINCIT). The project stands at the Directorate of Regulation for being studied and filed to the Congress of the Republic.

Former directors: Wilmar Franco Franco, Gabriel Gaitán León, Leonardo Varón Garcia, Daniel Sarmiento Pavas, and Luis Henry Moya Moreno pointed out some aspects that, in their opinion, are highly important to update the practice of the accounting profession and place it at the level of the international best practices.

See: https://jadelrio.com/Colombia/Flash27/2.Comentarios-exconsejeros.pdf 


3. The Ministry of Commerce, Industry and Tourism (MINCIT) extended the application date for the "Innova Award" announcement in which micro, small, and medium-sized companies from all economic sectors of the country (MiPymes) may present their innovations.

The (MiPymes), classified under Decree 957 of 2019, may participate in the "Innova Award," which must be natural or legal persons legally constituted in Colombia with a minimum of two years old at the date of application and be generating sales from the postulated innovation.

The announcement will be open until March 31st, 2023.

See: https://www.premioinnova.gov.co/


4. Through Official Letter 220-012850 of January 19th, 2023, the Superintendence of Companies made some details regarding commercial establishments.

The official letter specifies the concepts of commercial premises and commercial establishments. In turn, the limit of commercial establishments is clarified as the execution of agreements or contracts with other personalities within retail establishments. These differences may exist between reasons company, name, or brand and the sanctioning regime for non-compliance with regulations.

See: https://jadelrio.com/Colombia/Flash27/4.OFICIO220-012850_19_ENERO_2023.pdf 


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