Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
crypto news colombia

Colombian Tax Authority Tightens Control Over Cryptocurrency Usage

February 3, 2022
in Bitcoin News
420 4
0
Share on FacebookShare on Twitter

The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to detect any taxpayers that have used crypto assets and failed to report these activities, or reported them erroneously. This action seeks to thwart cryptocurrency-related tax evasion in the country.

Colombian Tax Authority Targets Tax Evaders

The Colombian tax authority, called the DIAN, has announced that its next target is cryptocurrency-utilizing tax evaders. According to a PR statement released January 28, the institution stated that it was undertaking a series of measures to tighten controls on taxpayers using cryptocurrencies for transacting or trading purposes.

While these actions have not been specifically disclosed, the measures follow the objective of gaining more clarity about the movement of cryptocurrency users and traders in the country. The DIAN stated:

These actions seek to establish a tax control for omitted or inaccurate taxpayers who in the Income and Complementary Tax did not record the income obtained from operations with cryptocurrencies or recorded them inaccurately.

The organization further explained this is part of the anti-money laundering and terrorism financing policies of the Colombian state. For this objective, the institution also announced that an agreement signed between Colombia and Finland would be key, allowing the free trade of information between the institutions of both countries. Localbitcoins, one of the leading peer-to-peer (P2P) based cryptocurrency exchanges in the world, is based in Finland.

Colombia and Crypto

The presence of cryptocurrencies in Colombia has been steadily growing, though the adoption is still small compared with other countries on the continent — like Venezuela or Argentina. However, there have been attempts to integrate crypto into traditional finance with the objective of easing the introduction of the new assets into the ecosystem.

One project, called the crypto sandbox, allowed exchanges to work in tandem with banks, giving the opportunity for cryptocurrency users to make crypto purchases with direct support from banking institutions. Also, Colombia ranks second in Latam for the highest number of cryptocurrency ATMs, just behind El Salvador, which raised its numbers due to the establishment of Chivo wallet ATMs.

What do you think about the statements of the Colombian tax authority on cryptocurrency-related tax evasion? Tell us in the comments section below. Source link

You might also like

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

March 5, 2022
Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

March 5, 2022

Related News

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

by Editorial Team
March 5, 2022
1

G7 countries and the European Union are examining ways to stop the use of cryptocurrency by Russia to evade sanctions....

Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

by Editorial Team
March 5, 2022
1

The CEO of the Nasdaq-listed crypto exchange Coinbase says ordinary Russians are using cryptocurrency as a lifeline now that their...

Bitcoin Mining Difficulty Drops

Bitcoin Miners Catch a Break as Mining Difficulty Drops for the First Time in 3 Months

by Editorial Team
March 5, 2022
1

Bitcoin miners got a small break on March 3, after the network’s mining difficulty shifted downward for the first time...

Arbitrum Treasure DAO hack

Attacker Hacks Arbitrum’s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit

by Editorial Team
March 5, 2022
1

A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hacked on March 3 at 7:33...

Next Post
crypto wallet malware

New malware targets MetaMask and 40 other crypto wallets

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    957 shares
    Share 383 Tweet 239
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

blockchain news

Project rewards healthy habits with tokens

January 21, 2022
Indonesian Religious Organization Issues Decree Forbidding Use of Crypto by Country’s Muslim Population

Indonesian Religious Organization Issues Decree Forbidding Use of Crypto by Country’s Muslim Population

January 22, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.