Colombian tax Authority warns about consequences of not declaring crypto related taxes

04/03 10:18

According to News.bitcoin, the Colombian tax authority, DIAN, has reminded taxpayers that they need to start registering cryptocurrencies in their statements starting this year. The organization informed the public that it is empowered to perform verifications on the received data from taxpayers to ensure the correct application of the tax laws of the country. The director of the DIAN, Lisandro Junco, reminded cryptocurrency users that this kind of asset is taxed as any other asset held by citizens. The penalties for not declaring cryptocurrency taxes in Colombia amount to double the funds not included in the tax statement. Colombia has collected $1 billion in the last three years in taxes linked to the digital economy, according to Junco.
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