Article 188.8.131.52.47 of Decree 286 of 2020 initially established that orange economy companies were those legal entities that pay income tax under the ordinary regime that were domiciled in Colombian territory, the corporate purpose of which was focused on the development of technological value-added industries and creative activities and, in addition, the companies had to be incorporated and start their economic activity before the thirty-first (31st) of December of 2021.
However, article 44 of Law 2155 of September 14, 2021 amended this term and provided that for the orange economy companies to apply for the exempted-income tax incentive, they must have ben incorporated and start their economic activity before June 30, 2022, on top of complying with the other requirements.
However, in order to classify the orange economic activities in a more accurate manner, it was determined that they will be governed by the International Standard Industrial Classification of all Economic Activities (ISIC). The orange ISICs are divided into three large groups: (i) Arts and Heritage; (ii) Cultural Industries; and, (iii) Creative Industries, New Media and Content Software. Each of these groups contains full inclusion and partial inclusion activities.