New Colombian Localization

in Odoo News

by
Raquel M. Iciarte P. (ric)

Electronic Accounting Localized for Colombia

Odoo CMS - a big picture

It seems that it was only yesterday when we released our version 11 and without realizing it, the time flies and we are already a few weeks away from the new version 12, much more advanced, full of new apps and features.

At the beginning of the year, we began to cross new frontiers with the localization. Odoo worked hard to improve our software and adapt it to local accounting regulations. The Latin American community plays a fundamental role for us and that is why we focus on meeting their needs. First, it was Mexico, and now it's Colombia's turn!

We want to share with you this great news just before the big leap to our next version, Odoo 12, and thus give you an exclusive view of its scope and main characteristics and how this location complies with the regulations requested by the Colombian government.

How the localization initiative arose

It all started with the implementation of one of our oldest and largest clients in Colombia and Latin America. Like the rest of the taxpayers of this country, as of this year, electronic invoicing is mandatory.

It became mandatory for large taxpayers from June 1, 2018, and for all others in 2019, for this before that date the various taxpayers had to notify the regulatory body that they were ready to start or request an extension.

                              Colombian Fiscal Regime

                              The National Directorate of Taxes and Customs (DIAN) classifies companies in different categories depending on their income, the nature of the business and several additional factors. This classification determines the tax (s) to which they are bound.

                              There are four main tax regimes

                              •  Simplified Regime
                              •  Common Regime
                              •  Great Contributor
                              •  Great Self-Retainer Contributor

                              Although they are not the only existing taxes, these are the main taxes and withholdings that are stipulated in the Colombian Tax Statute and that are included in the Odoo Localization:

                              •  VAT purchase and sale
                              •  Retention in the source (RteFte)
                              •  Withholding of the VAT
                              •  ICA Retention

                              What is included in the Colombian localization of Odoo?

                              •  Updated chart of accounts (there are currently 367 predefined accounts but other industries and types of companies can be included)
                              •  Pre-configured taxes (IVA, Rte IVA, Rte ICA, Rte Fuente)
                              •  Tax base amount
                              •  Withholding tax certificates
                              •  Contact: type of document
                              •  Contact: validation of the check digit in RUT










                              However, if you want to learn more about this topic, do not miss the opportunity to attend our Odoo 11 Tour event in the city of Bogotá, and witness a live demonstration by our experts in the material.

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