Tax reforms proposed by the government of Gustavo Petro begin a direct charge into the heart of Colombia’s cryptocurrency ecosystem by bringing up important amendments to the tax law that taxes cryptocurrency transfers with VAT. This legislative move to inject P26 billion into the country’s budget by 2026 will illuminate the alarm of ananista warning of the hard blows in the low and mid-rise.
This initiative will amend tax laws Define digital assets as “digital and intangible representations.” “If approved, the cryptocurrency exchange must report operations that exceed 1,400 units of tax (UVT).
This means that reform projects will force all businesses of users over 60 million pesos ($1,500) in taxable years to report to the National Tax and Customs Administration (DIAN).
Tax reform also imposes 15% sanctions on the value of cryptocurrencies omitted in previous income statements that taxpayers decide to include in the tax standardization process, as detailed in the report. The project is currently under discussion in the Republican Parliament.
Therefore, tax reform is looking at cryptocurrency.
- VAT to Cryptocurrencies: Reform imposes VAT on the transfer of digital assets and defines them as valuable and intangible expressions.
- Occasionally to 30%: Asset transfer operations maintained for more than four years sometimes face a 30% percentage in profit.
- Omitted sanctions: 15% sanctions have been established against Bitcoin and cryptocurrencies that were not previously declared.
- Required Report: Exchanges must report transactions greater than 1400 UVT.
- Tax Standardization Tax (Article 87-91): Creates a complementary 15% tax on omissions or liabilities as of January 1, 2026. Define a taxable base and apply it to foreign foundations and trusts. This aims to combat tax evasion and cover-up of assets by Colombian taxpayers who have used these structures to maintain their goods out of reach of national taxes.
Tax reforms create debate in Colombia
Representatives of Edna Tamara Chamber defend reform as an important “finance law” to balance the fiscal deficit and maintain social proposals, ensuring that it protects the lower and middle classes. But Diane’s former director, Lisandro Junko, is a counterattacker who states that. That effect increases such hierarchy With gasoline and public services.
Meanwhile, Senator Angélica Lozano has turned on the alarm by seriously affecting Colombians’ days if approved what she calls the “pearls” of tax reform. Among the most controversial points, the VAT charge on horizontal property management fees significantly increases the cost of living in housing complexes.
As Rozano warns, the reform will also directly strike thousands of families by negating income deductions from dependents, affecting citizen savings with new taxes on term deposit certificates (CDTs). Property sales will not be saved as property sales will face new taxes and complicate the situation for people who see ways to supplement pensions in their homes.
This panorama of powerful tax measures coincides with previous warnings that have already resonated since June. At that time, as reported by Cryptootics Diane announced Colombia’s intention to “put the Bitcoin industry in Colombia”.
By then, Director of Diane Luis Eduardo Rulinas is already preparing new regulations to sign up directly for wallets, exchanges, cryptocurrency services suppliers and online bets. According to Llinás, the aim was not to create more taxes, but to optimize existing mechanisms, allowing “lmao to no” sectors to contribute proportionately.
Diane even considered the “billionaire move” without proper regulation and given the failed attempts of certain laws, he even considered issuing a statute to address this fiscal lagoon.
Llinás’ statement occurred in the context in which the Republic Secretary exists, through Carlos Hernan Rodriguez Bequera. He has already questioned Diane’s “difficulties and shortcomings” in overseeing the cryptocurrency sector.and may even carry out financial movement tracking with these assets.
While Colombia has been requiring a four-year declaration of operation with cryptocurrency, current tax reform represents a dramatic step towards strengthening its inevitable fiscal management, trying to fill the gap that allowed this dynamic sector to operate at a minimum taxation.
Integrating Cryptography in this Ambitious Reform It seals the government’s resolve to cover every corner of the digital economy, It guarantees that Colombians will not be exempt from their financial sphere.
