Ley 174 de 1994 | Ley 174 de 1994 — Colombia law | Esheria

Ley 174 de 1994

This provision is the preamble to Law 174 of 1994, identifying it as a law on customs sanitation and other tax matters.

Jurisdiction
Colombia
Instrument
Act or statute
Citation
Ley 174 de 1994
Version
Undated source snapshot
Language
es
Updated
Official source
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VAT amnesty asset revaluation asset valuation capital gains contribuciones especiales control tributario corporate tax cumplimiento tributario customs compliance debt remission deduction calculation facturación filing notice financial reporting fiscal adjustments fiscal cost funerary services income tax inflation adjustment inflation adjustment accounting inventory costing inventory valuation patrimony valuation +5 more

Statute overview

About this statute

This provision is the preamble to Law 174 of 1994, identifying it as a law on customs sanitation and other tax matters. The article is labeled “inexequible” and the text also mentions prior legislation. Algunos contribuyentes deben determinar el costo de venta de activos movibles usando inventarios permanentes o continuos, u otro sistema contable de valor técnico reconocido autorizado por la DIAN. Certain income tax taxpayers with inventory differences from UEPS/LIFO must unwind those differences over tax returns from 1995 through 1999, at minimum 20% per year. Inventory valuation must be applied consistently during the year, match accounting books and the income tax return, and any change in method must be notified in advance to the tax authority. Certain declared or officially formed appraisals may be used as fiscal cost when selling fixed-asset real estate for tax purposes.

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