Applying for the Socio o Propietario de Estab. Comercial Visa

haji says on Sep 28, 2005, 17:11:

DECLARACION DE RENTA No, this requiremente WILL NOT be overlooked. The DIAN is always on top of this for all business even if they are new businesses and you have nothing to declare.

Best thing to do is to file the income tax return with "0" income, you will be starting your business with a right foot with the DIAN.

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spigrimace says on Sep 29, 2005, 10:44:

It´s a must Maybe no income because you just started, but supplying it is a must.

Get ready for the monthly Tax of Industrio Y Comercio y Avisos. I pay $63,000 monthly and I´m not really sure why except that I have to because the bill comes in from the Acaladia de Medellin.

IVA will be a fun part of your business as well. Just don´t skim TOO much or DIAN will be up your butt. I heard from people in DIAN that 20% is acceptable but many business owners take 50% and up. By the way, if anyone´s in Medellin and you dont need your reciepts from Makro, Exito, Carrefour, etc. They all tend to have IVA on them and in the restuaurant business, we use them to net out IVA collected on sales from the IVA paid on purchases to save a few pesos that way and don´t have to give DIAN everything we collected.

If you need some other common (and sometimes not so ethical) business practices that are sometimes needed to ensure some profitability, let me know. For example: It´s definitely common NOT to pay all extra hours worked. Some pay some extras while others pay NONE of the extra hours.

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carter says on Sep 29, 2005, 14:37:

I just got my business visa and didn't fulfill that requirement.(I don't think) How could I rent a property before I was officially allowed to start one.

Merida consulate understood.

What does it entail?

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