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Colombia Plans to Launch Digital Currency to Reduce Tax Evasion

Colombia Plans to Launch Digital Currency to Reduce Tax EvasionThe government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also be accompanied by restrictions on cash payments and transactions of over 10 million Colombian […]

Bitfarms: Rebound Overdue or Losing the Game?

Colombian Tax Authority Warns About Consequences of Not Declaring Crypto Related Taxes

Colombian Tax Authority Warns About Consequences of Not Declaring Crypto Related TaxesThe Colombian tax authority, DIAN, has reminded taxpayers that they need to start registering cryptocurrencies in their statements starting this year. The director of the DIAN, Lisandro Junco, reminded cryptocurrency users that this kind of asset is taxed as any other asset held by citizens. Colombia has already collected $1 billion in digital economy-related taxes. […]

Bitfarms: Rebound Overdue or Losing the Game?

Colombian Tax Authority Tightens Control Over Cryptocurrency Usage

Colombian Tax Authority Tightens Control Over Cryptocurrency UsageThe 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 […]

Bitfarms: Rebound Overdue or Losing the Game?