COP- USD Exchange Rate

Modifications to the national betterment levy

Through Decree 1255 of 2022 emitted by Ministry of Finance and Public Credit, a new regulation on betterment Levy (“CNV” - acronym in Spanish) for the transportation sector was issued. This regulation also specifies the technical criteria that the public entities of the national order, responsibles of infrastructure projects, should consider in order to determine the zone of influence, and develops the elements that allow the determination of the cost of the infrastructure projects which integrate the taxable base for the projects of the transportation sector, as well as what refers to the collection expenses, and the distribution methods. Finally, it regulates the rates for the liquidation of the financing interests of the deferred payments of the CNV and the necessary aspects for the implementation of the payment methods.

New visa regulations in Colombia

The Ministry of Foreign Affairs issued Resolution 5477 of 2022 as a new regulation on visas for entry and permanence in Colombian territory, as part of a process of updating and adapting to the provisions and obligations of international and regional agreements, internal regulatory changes and new socio-cultural dynamics. The changes imply a flexibilization of migratory regulations to promote the mobility of students, teachers and researchers to Colombia, and considered the dispositions of the Temporary Statute for the Protection of Venezuelan Migrants (“Estatuto Temporal de Protección al Migrante Venezolano”), the residency agreement for nationals of Mercosur member states, Bolivia and Chile (“Acuerdo de residencia para nacionales de los Estados miembros del Mercosur, Bolivia y Chile”), the Andean Migratory Statute (“Estatuto Migratorio Andino”), the new concepts of tourist and digital nomad established in Law 2068 and 2069 of 2020, and those related to the promotion of cinematographic activity and therefore tourism to the country, among others. 

Rules applicable to the events of omission in the linkage or affiliation to the General Pension System.

By means of Decree 1296 of 2022, the Ministry of Finance and Public Credit modified and added provisions related to the formula for calculation of the actuarial reserve or calculation to which employers and independent workers are obliged in the event of omission in the linkage or affiliation to the General Pension System. Among the provisions expressly modified are those referring to the determination of the value of the actuarial reserve, the value of the periods omitted with respect to the linkage and affiliation to the General Pension System, and the reference salary. In turn, a complete chapter was added regarding the actuarial calculation methodology for employers and independent workers.