Ever wonder what happens when you do not declare your crypto taxes? A Colombian tax authority, DIAN warned people who do not declare crypto taxes.
The director of the tax authority, Lisandro Junco, informed about crypto assets and their tax status in Colombia. He declared:
"You have to pay taxes even if it is an element of the digital economy."
You will get penalties! yes, penalties
The penalties for not declaring cryptocurrency taxes in Colombia amount to double the funds not included in the tax statement.
