Oracle NetSuite Tax Compliance for Colombia

LatamReady SuiteApp

LatamReady SuiteApp is the only Native Tax Compliance solution available at www.SuiteApp.com that supports the whole Latin American Region.

LatamReady supports +150 Customers, including the biggest Oracle NetSuite clients who have implemented in Latin America.

Tax Determination & Tax Information Reporting Features

For Colombia


Fully supporting NetSuite's Multi-Booking feature, our solution for Colombian Legal Reporting includes the following ledgers:


  • 1.Monthly legal ledgers (CSV format):
  • a. Libro Diario

    b. Libro de Inventario y Balance

    c. Libro Mayor y Balance

    d. Balance de Terceros

  • 2.Annual Electronic Accounting ledgers:
  • i. Form 1001 Cuenta de pagos o créditos y retenciones

    ii. Form 1003 Retenciones en la fuente que le practicaron

    iii. Form 1005 Impuesto a las ventas por pagar (Descontable)

    iv. Form 1006 Impuesto a las ventas por pagar (Generado)

    v. Form 1007 Ingresos Recibidos

    vi. Form 1008 Saldo de cuentas por cobrar

    vii. Form 1009 Saldo de cuentas por pagar

    viii. Form 1012 Información de declaraciones tributarias, acciones, inversiones en bonos títulos valores y cuentas de ahorro y cuentas corrientes.

  • 3.Medios Magnéticos Bogotá (2020.1)
  • Plus! A set of Reports/Audit Reports/Searches/Alerts developed by LatamReady

    LatamReady SuiteApp includes a set of non-legal reports that our Local Users find useful to review/validate legal reports information as a previous task before sending/uploading the information to the local Tax Authority.


    Tax Rules and Tax Calculation Features

    For Colombia



    Tax Calculation 

    LatamTax, LatamReady’s Tax Engine developed inside of Oracle NetSuite and designed exclusively for Latin America, takes care of the complexity of local Withholding Taxes in Sales and Purchases.

    LatamTaxpre-configured set of taxes includes:

  • 1.ICA
  • 2.IVA
  • 3.Renta
  • 4.Autoretención
  • Withholding Tax Certificates Formats

    LatamTax produces the required format for Withholding Tax Certificates that are required by Suppliers

    Local Tax ID Validation

    No more local Tax IDs incorrectly registered! 
    LatamReady includes the local validation algorithm required to verify that!



    Electronic Invoicing Features

    For Colombia


    Directly from inside of NetSuite

    LatamReady offers a complete solution for Electronic Documents in Colombia working natively inside of NetSuite.

    No need for managing an additional local service, we do it for you!

    The local e-documents supported are:

    1.Factura

    2.Nota de Crédito

    3.Nota de Débito

    4.Factura de Exportaciones

    5.Nota de Crédito de Exportación

    6.Nota de Débito de Exportación

    7.Documento Equivalente (2020.2)

    Does your subsidiary issue hundreds or thousands of e-Documents? Ask for our advanced solutions for bulk processing e-Documents!



    Electronic Payments Features

    For Colombia

    LatamReady supports massive Bill payments for the following local Banks:

  • Davivienda
  • Bancolombia
  • BBVA Colombia

  • Customer Care Support

    For Colombia, 18+ Latin America Countries


    Always Up to Date!

    Our service includes legal updates for 18+ Latin American Countries.

    Colombian and Latin American Tax Rules are continuously changing and evolving.

    LatamReady, combining local tax advisory in each country and the biggest NetSuite software factory in the Region, will ensure that your subsidiary keeps running compliant.

    Included in your annual subscription, you will also receive Unlimited Customer Care support in 3 languages: English, Portuguese and Spanish.

    Additionally, LatamReady releases 2 official versions per year, always Built-For-NetSuite certified by Oracle.

    LatamDojo E-Learning Platform

    For Colombia, 18+ Latin American Countries

    Training on Demand

    LatamDojo, our E-learning platform, includes thousands of training videos explaining how to be and remain complaint in Latin America with Oracle NetSuite and LatamReady!



    LatamReady Pricing List

    For Colombia, 18+ Latin American Countries


    Choose your Edition and start working with NetSuite all across Latin America!

    Safe Harbor Statement

    Safe Harbor Statement

    All forward-looking statements (future LatamReady SuiteApp releases) are intended to outline our general product direction. They are intended for information purposes only, and are not incorporated as part of our contracts. It is not a commitment to deliver any  feature or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for LatamReady’s products remains at the sole discretion of LatamReady.