Colombia’s tax authority (DIAN) recently compiled in a single document all of the current country’s doctrines on tax, customs, and exchange of crypto assets. The purpose is to make it easier for taxpayers to identify the regulatory pronouncements on current norms and doctrines that have addressed the subject of crypto-assets and related operations.
The official statements and concepts compiled by the entity include the definition of crypto assets; which crypto assets must be declared and how they are declared; support of costs and deductions in the purchase of crypto assets; sale of crypto assets; and withholding at source for income tax purposes in operations with crypto assets, among others.
The development and innovation of crypto assets transformed how goods, services, and assets are exchanged in the economy. Colombia is an attractive market, as it is one of the countries that uses the most crypto assets worldwide; therefore, knowing the concepts issued by the DIAN are relevant for the interpretation of the scope of tax and foreign trade regulations.
Original source in Spanish.