New measures to regulate the Bitcoin (BTC) ecosystem and other cryptocurrencies will soon be applied in Colombia, according to the director of National Tax Administration Luis Eduardo Llinás.
Speaking to local media, Llinás revealed it It’s not about creating more taxesbut to use existing mechanisms more efficiently. Therefore, it is contemplated that regulatory frameworks, such as the cryptocurrency ecosystem and online betting, require taxes to those who are not obligated to do so.
The aim is for today’s “least-paid” sector to contribute proportionately to economic activity. This includes areas already identified by data analysis “which has been underestimated by tax systems over the years.”
We are talking about all digital worlds where virtual wallets, exchanges and service suppliers, along with cryptocurrency (…) currently have no regulatory frameworks. Tax reforms are being considered to correct current law errors.
Luis Eduardo Rulinas
He added that they are meeting with the Financial Supervisor and the Ministry of Finance to address the issue. They are trying to assess the mechanism of joint action.
“The idea is that we can deal with it and we can put them on our hips,” Llinás said. this is, Lack of legislation It was approved by Congress after several failed attempts to promulgate the law.
I add that norms may be issued By lawit is not the only strategy that will work later this year with the aim of increasing the numbers in the collection.
The statement from the director responsible for Diane comes in the context of the Republic’s Secretary questioning the work of the body, including the process of overseeing the cryptocurrency sector.
“We are planning a visit to Diane and have discovered difficulties and shortcomings,” said Secretary Carlos Hernan Rodriguez Beterra at a banking conference held in Colombia this week. So he warned that they are doing so now. Tracking financial movements with cryptocurrency.
Rodriguez Beterra has claimed that he had called Diane’s work before the Republican Parliament and in writing he brought the central government to the attention, but they probably had no answer.
The controversy has led Diane to step up follow-ups of taxpayer economic movements, including Bitcoin operations. Banks, notaries, chambers of commerce and businesses report to Diane on natural and corporate fiscal movements, including transactions with encryption.
As Cryptonoticia reports, Colombia requires it to declare cryptocurrency for four years. Practices where much of the data were collected are hoped to be integrated by strengthening external information systems.