The DIAN, Colombia’s tax authority, has announced that cryptocurrency-using tax evaders will be its next target. According to a press release issued on January 28, the organisation is taking a number of steps to tighten controls on taxpayers who use cryptocurrencies for transacting or trading.
While the details of these activities have not been revealed, they are part of a larger effort to obtain a better understanding of how bitcoin users and traders travel around the country.
According to the DIAN:
“These steps are intended to establish a tax control for omitted or inaccurate taxpayers who did not or incorrectly record revenue from cryptocurrency operations in the Income and Complementary Tax.”
The organisation went on to say that this is part of Colombia’s anti-money laundering and anti-terrorism financing measures. For this purpose, the organisation also stated that a signed agreement between Colombia and Finland would be crucial, allowing open information exchange between the two countries’ institutions.
It’s a wrap for this story.
