The Colombian tax authority tightens control over the use of cryptocurrencies - Emerging Markets
The Colombian tax authority tightens control over the use of cryptocurrencies - Emerging Markets
The Dian, the Colombian tax authority, has announced that it takes special measures to tighten the controls of taxpayers who are currently using cryptocurrencies for transactions. With these actions, the organization tries to track down all taxpayers that used crypto-assets and have not reported these activities or incorrectly. This action aims to thwart tax evasion in connection with cryptocurrencies in the country.
The Colombian tax authority takes action against tax evaders
The Colombian tax authority called Dian has announced that their next destination is tax evaders who use cryptocurrencies. According to a pr-statement published On January 28, the institution said that they are taking a number of measures to tighten the controls of taxpayers who use cryptocurrencies for transaction or trade purposes.
Although these measures have not been expressly disclosed, the measures pursue the goal of gaining more clarity about the movements of cryptocurrency users and dealers in the country. The Dian said:
These measures aim to establish a tax control for failed or inaccurate taxpayers who have not or imprecise the income and supplementary taxes generated from business with cryptocurrencies.
The organization further explained that this was part of the policy of the Colombian state to combat money laundering and terrorist financing. For this goal, the institution also announced that an agreement signed between Colombia and Finland is of crucial importance that enables free information trade between the institutions of both countries. one of the world's leading Peer-to-peer (P2P)-based cryptocurrency exchanges is based in Finland.
Colombia and crypto
The presence of cryptocurrencies in Colombia has increased steadily, although acceptance is still low compared to other countries of the continent-such as Venezuela or Argentina. However, there were attempts to integrate crypto into traditional finance, with the aim of facilitating the introduction of the new assets into the ecosystem.
A project called crypto-sandbox Exchange to work with banks, which gave users of cryptocurrencies the opportunity to make crypto purchases with direct support from banking institutions. In addition, Colombia in Latam takes second place for the highest number of cryptocurrency money machines, just behind el Salvador, which is due to increased the setting up of chivo wallet monkey machines.
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