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Written in conjunction with TMF Group
The Parafiscal and Pension Management Unit (UGPP) is the principal entity in charge of monitoring, controlling, and ensuring that all companies operating in Colombia are in compliance with social security contribution requirements. The UGPP has recently become stricter with inspections, and more closely focused on details when it comes to ensuring this compliance.
This on-demand webinar video, presented by TMF Group and Baker & McKenzie, illustrates the exact functions of the entity, how far its reach extends, and what type of penalties your organization may face if it is not compliant. It also details the activities needed to mitigate audits – including tips on new and better practices, and how to protect your company’s reputation.
You will learn how to avoid some of the most critical errors, and their potential sanctions. For instance, in 2010 a law was established to make sure every Colombian business would proportionately establish and report its salary and benefits contributions. Most organizations did not complete this requirement, and are therefore being penalized by the UGPP. You will learn of similar avoidable mistakes, which can help prevent your company from facing fines.
Meet our expert:
Baker & McKenzie: Jaime Girón is a senior tax associate in the Firm’s Tax Practice Group in Colombia and is responsible for the local Tax Litigation group. Mr. Girón has significant experience in litigation processes before the Colombian Tax Authority and the corresponding tax courts for a wide range of industries. Prior to this, Mr. Girón was in charge of the tax litigation practices of Deloitte.
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