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Description
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https://archive.devcon.org/archive/watch/6/taxing-crypto-in-colombia/
The director of the Colombian Tax and Customs Administration will present a document unifying the current rules about the taxation of digital assets in Colombia and will discuss gaps in the current normative framework. He will also invite feedback from the community on how to address these gaps.
Speaker(s): Luis Carlos
Skill level: Beginner
Track: Opportunity & Global Impact
Keywords: Taxation
Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum
Learn more about devcon: https://www.devcon.org/
Learn more about ethereum: https://ethereum.org/
Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
Devcon 6 was held in Bogotá, Colombia on Oct 11 - 14, 2022.
Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/
A
A
Hi,
everyone
I'm
here
to
remind
you
that,
even
though
crypto
isn't
in
no
type
of
crypto
is
currently
a
form
of
money
in
Colombia,
that
doesn't
mean
you
don't
have
to
pay
taxes
on
it.
That's
a
joke!
Yeah!
No,
but
even
even
you
know,
because
of
this,
we
want
to
make
sure
that
the
rules
for
paying
taxes
on
crypto
and
crypto
related
activities
are
are
clear.
We're
taking
steps
to
make
that
make
make
things
even
clearer
than
they
currently
are.
A
A
few
of
you
may
have
wondered,
especially
if
you,
even
if
you
have
just
used
a
crypto
platform,
if
you
are,
if
you
have
to
pay
any
taxes
on
the
gains
that
you
make
from
your
Investments
or
if
you
run
a
platform
I,
don't
know
if
the
representatives
of
the
the
exchanges
in
the
country
are
are
here.
We
would
like
to
make
sure
that
you
know
exactly
what
rules
you
have
to
to
follow.
A
Many
of
you
guys
probably
have
heard
the
debate
in
Congress
about
a
taxation
of
your
net
worth
how
it's
calculated,
and
so
just
you
know
just
like.
If
you're
curious
about
this,
you,
you
would
basically
have
to
to
tell
us
to
tell
the
tax
administration
the
value
of
the
crypto
at
the
the
passive
value
that
you
acquired
it
on
on
the
day
when
you
acquired
it,
you
just
have
to
tell
us
there's
currently
no
taxes
on
on
your
net
worth.
A
There
have
been
in
the
past,
but
this
is
only
for
informational
purposes
and
everything
else
is
essentially
a
capital
gains
taxation,
if
you,
so
if
you,
if
you
buy
crypto
or
other
assets
right,
if
you
buy
nnft
and
it
increases
in
value,
you
don't
have
to
pay
any
taxes
until
the
moment
when
you
sell
it.
So
if
you
sell
it,
you
make
money
on
it.
A
The
difference
between
the
price
which
you
bought
it
and
the
price
that
that
you
bought
for
it
is
the
is
the
basis
on
which
you
have
to
pay
a
rate.
That
rate
will
depend
on
whether
you
have
held
the
the
assets
for
two
years
or
or
more
if
you
have
held
them
for
more
than
two
years.
This
is
the
roughly
speaking
the
capital
gains
tax.
It's
called
ganancies
in
in
Colombia.
A
A
A
You
may
have
wondered
I
know
because
I
have,
if,
if
you're
in
an
exchange-
and
you
buy
and
sell
crypto
right-
maybe
you're
just
playing
around
with
any
type
of
cryptocurrency
you've
made,
and
you
sell
it
to
someone
right
and
if
you,
if
you
like
to
think
about
tax
issues
which
some
people
do
you
may
Wonder.
Does
this
pay
vat,
though
the
value-added
tax
Eva
in
Spanish?
There
are
activities
such
as
exchanges
that
are
that
do
not
pay
vat
it.
A
So
when
it
comes
to
intangible
assets
like
like
crypto,
then
as
long
as
they
don't
have
an
intellectual
commercial
industrial
value.
So
this
is
more
like
patents
right
like
if
they
don't
have
that
that
added
value
then
you're
not
responsible
for
paying
vat.
However,
if
you're
selling
say
at
least
some
sort
of
of
nfts,
there
may
be
vat
to
be
be
paid
so,
especially
if
you're
thinking
of
running
a
business
that
operates
buying
and
selling
crypto
nfts
other
types
of
digital
assets.
A
These
are
things
that
you
may
want
to
take
into
account,
and
we
want
to
make
this
easy
for
those
paying
taxes
right.
You
have
to
pay
them.
The
least
we
can
do
is
make
it
easy
for
you,
so
we
are
here
to
to
help
I
have
I've
given
instructions
to
the
the
the
the
subdirectorate
in
charge
of
Norms.
You
know
interpreting
the
the
tax
norms
for
specific
cases
in
specific
Industries,
to
compile
all
the
concepts
we
have.
A
We
have
issued
about
crypto
in
a
single
document,
and
but
also
we
are
here
to
collect
the
questions
that
you
may
have,
and
we
want
to
issue
an
official
concept
about
this.
We
want
to
do
this,
both
in
Spanish
and
in
English.
We
want
to
have
a
clear
rules
for
those
coming
from
abroad
to
to
invest
and
even
though
I
think
we're
all
excited
for
the
for
the
closing
event
at
3
30..
We
are
here
to
to
take
questions
yeah
sure,
so.
B
You're
mentioning
that
we
would
have
to
pay
taxes
if
I,
you
know,
purchase
a
Bitcoin.
Let's
say
it
goes
up
in
price
and
then
sell
it
for
fiat
currency,
but
if
I
were
to
buy
a
Bitcoin
and
then
swap
it
to
another
currency,
another
digital
currency,
let's
say
ethereum
and
the
price
was
well
technically
created
a
taxable
game.
How
would
I
pay
that
tax
would
I
pay
it
in
the
value
of
the
local
fiat
currency?
Would
I
pay
it
in
one
or
the
other
intangible
ads
assets?
How?
How
would
you
do
that.
A
That's
a
great
question
because
currently
ether
and
then
at
Bitcoin
are
not
currently
considered
currency
in
Colombia
and
you're,
just
swapping
assets,
it
may
depend,
but
you
would
probably
just
have
to
pay
the
time
you
sold
the
in
your
example
the
ethereum
for
Fiat
and
then
I.
Think
that
also
raises
the
question
of
what
do
you
do
if
you,
if
you
buy
something
in
crypto
right
like
if
you,
if
you
buy
a
house
in
crypto
like
what
would
you
do?
C
So
you
never
specified
whether
for
whether
it
was
first
in
first
out,
which
is
if
I
had
bought
Bitcoin
and
maybe
I
put
it
off
to
the
side
for
long-term
storage
or
ethereum,
whichever
asset
and
then
later,
I
start
trading
with
other
assets
over
here.
So
first
in
first
out
would
say
that
the
very
first
purchase
of
the
asset-
ethereum,
let's
say,
was
at
a
hundred
dollars
and
now
it's
at
fifteen
hundred
dollars.
It
doesn't
matter
my
trades
over
here,
it's
first
in
first
out,
do
you
understand
the
first
stand
person.
A
Think
the
what's
really
helpful
for
for
thinking
all
this
is
that
for
all
practical
effects
and
purposes
in
Colombia
crypto
assets
are
intangible
assets,
so
you
would
handle,
say
inventories
in
the
same.
You
would
follow
the
the
current
accounting
rules
right
in
in
Colombia.
This
I
don't
know
what
accounting
rules
you're
most
familiar
with,
but
we
wouldn't
be
using
a
US
U.S
gaap,
but
we
would
be
using
IFRS
rules
for
for
accounting.
A
So
so
that's
what
would
apply
it
would
apply
in
in
this
case,
I
I
I
think
we
probably
in
the
concept
and
in
the
document
that
we
will
post
I,
will
post
it
on
on
my
Twitter
account
to
to
start
clarifying
some
of
those
things,
but
mostly
to
invite
questions
like
this,
so
that
we
can.
We
can
give
you
specific,
detailed
answers,
yeah.
What.
D
A
A
A
E
Some
wallets
have
debit
cards
if
you're
given
by
Visa
or
Mastercard.
So
how
do
you
make
a
chain
of
taxes
whenever
you
have
a
wallet
that
lets
you
save
in
usdc
or
whatever,
and
then
spend
it
in
retail?
Let's
say
in
a
cafe:
I
think
there
will
be
taxes
along
the
way,
but
who
is
paying
what,
in
that
change.
E
A
Right
yeah,
currently
none
of
that,
so
those
are
things
that
would
have
to
be
regulated
by
the
by
the
financial
Authority,
the
the
Colombian
SEC,
the
superintendency
of
financiera,
because
the
regulation
is
still
to
come.
You
would
basically
not
pay
a
lot
of
things
that
you
pay
in
the
current
Financial
system.
A
There's
you
may
be
aware
that
that
in
Colombia
there's
the
cuatro
per
meal,
which
is
like
a
0.4
percent
tax
on
financial
transactions
that
would
apply
only
when
you
convert
that
into
you
know,
into
into
VR
and
into
the
traditional
Financial
system.
But
that's
that's
a
great
idea
to
raise
her
anyway.
I'll.
Take
that
one
with
me,
yeah
I'm,
just
kidding,
but.
A
This
is
still
something
that
has
to
be
regulated
by
the
financial
Authority,
so
I
suppose
you
could
sign
a
private
contract
and
then
you
give
this
as
a
collateral.
As
long
as
someone
else
accepts
it,
you
you
could
sign,
you
could
sign
a
contract
that
that
specifies
it
right,
yeah
right,
okay,
so
in
the
case
of
of
D5
yeah
we're.
Actually,
this
is
one
of
the
questions
that
that
we
currently
want
to
to
address
in
detail,
because
it's
it's
a
question
that
we've
been
yeah.
G
A
G
Context
of
of
my
question
is
because
the
the
former
director
yeah
said
in
incarnate
called
noticias
that
people,
that
is,
that
need
to
declare
their
crypto.
They
have
to
do
it
from
2017
and
they
have
to
pay
the
maltas
from
those
years.
17
18
19
20..
And
what
do
you
think
about
that?
Because
the
incentives
are
maybe
not
aligned
and
people
don't
want
to
declare
something
to
be
a
bad
person
and
paying
those
multas?
You
know.
A
Right
as
part
of
the
the
the
tax
reform
bill
that
we
are,
you
know
shepherding
through
Congress.
We
are
trying
to
make
a
lot
of
those
fines,
not
just
for
crypto
specifically,
but
for
a
lot
of
different
businesses
and
and
also
just
regular
people,
a
lot
more
understanding
of
when
people
are
not
really
at
fault,
and
we
want
to
focus
on
actual
tax
evaders.
The
process
is
still
ongoing.
A
So,
as
I
said,
we
we
welcome
all
feedback
that
that
you
may
have
about
the
permissions
that
we
have
already
included
in
the
bill,
and
what
else
could
be
could
be
useful.
One
thing
that
we
we
have
gotten
a
lot
of
questions
about
has
to
do
with
whether
we
will
accept
taxes
in
crypto.
It's
it's
something
that
we,
as
of
as
a
tax
administration,
can
can
do.
If,
given
legal
Authority
by
Congress,
we
can
we
can
handle
it.
A
We
think
it's
actually
very
interesting
if
you
know,
if
a
firm
or
if
a
person
wants
to
be
associated
with
a
specific
wallet
or
sets
of
wallets,
because
that
actually,
as
you
guys
know,
a
lot
of
people
still
think
that
that
crypto
is
cryptic
and
that
you
can't
trace
stuff
we're
actually
interested
in
the
traceability
of
a
lot
of
of
the
cryptocurrencies
and
that
it
that
can
only
be
good
for
us
as
a
tax
administration.
So
we're
very
open
to
all
of
these
proposals.
H
H
A
Hold
any
crypto
I've
I've
held
it
yes,
yeah,
oh
no
for
sure
I
I
mean
look,
I,
think
it's
a
technology.
That's
here
to
stay,
I,
think
it's
promising
I
think
the
I
think
there's
a
lot
of
misconceptions
about
crypto
I
think
we
should
help.
Everyone
understand
that
this
is
a
promising
technology.
I
I,
look
forward
to
the
forthcoming
regulation
that
various
other
government
agencies,
or
which
I
have
no
control
I,
should
say
that
will
will
issue
at
some
point.
I
think
it
should
be
sooner
rather
than
later.
A
I
think
there's
one
of
the
developments
that
that
I
find
most
exciting
is
Central.
Bank
issued.
You
know
digital
currencies,
I,
I
I
was
excited
like
I.
Suppose
many
of
you
were
when
the
Central
Bank
announced
that
they
are
studying
the
the
issue.
I
think
I
think
I
think
only
good
things
can
come
from
from
from
this
industry.
A
I
It's
more
about
stable
coins
and
usdt
usdc.
So
if
I
get
my
pesos
and
always
convert
them
into
US
dollars
or
well
in
this
case,
usdc
or
usdt,
and
then
I
when
I
need
the
money
back
in
Colombia,
I
transfer
them
back
to
my
account.
What
would
be
that
tax
incentive
like
implications
there,
because
you
said
like
it's
like
buying
dollars,
you
know
Cambio
and
then
just
like
either
spending
in
abroad
or
just
having
them
in
your
house
or
whatever.
So
what
would
be
the
implications
there?
I
A
So
something
like
like
usdt
or
other
stable
currencies,
stable
coins
are,
they
are
not
legal
tender
here
or
anywhere,
so
they
are
under
Colombian
legislation
and
and
then
rules
they
are
considered
just
intangible
assets.
So
the
way
it
would
work
is
say
you
so
suppose
you
you
buy
I,
don't
know
you
like.
You,
go
through
a
whole
process
right,
you,
deposit,
some
Pesos
into
a
local
platform.
A
You
use
it
to
buy
Bitcoin,
which
then
you
in
a
local
platform,
which
then
you
transfer
to
a
platform
abroad,
and
you
use
it
there
to
buy
some
usdt,
and
then
you
do
some
more
stuff
with
it,
and
then
you
bring
it
back
the
way
it
would
work
in
terms
of
of
it
being
taxed.
Is
you
there's
a
certain
amount
of
in
pesos
that
you
paid
at
the
the
exchange
rate,
the
official
exchange
rate
of
that
they.
A
A
Like
the
technology
look,
I
just
run
the
tax
administration,
like
those
are
issues
for
the
for,
for
various
government
entities
right
like
I,
think
it's
exciting
to
to
see
how
you
know,
ownership
Registries
would
work
how
the
financial
regulation
really
is.
What,
as
we
all
know,
is
necessary
for
for
this
industry
to
to
have
a
more
solid
footing.
I
and
I.
A
Do
hope
and
I
know
that
that
the
people
involved
in
this
understand
the
the
issue
and
they're
working
towards
making
things
like
that
possible.
I
think
I
think
in
general
it's
an
exciting
technology
and
I.
I
also
think
that
we,
we
still
we're
still
trying
to
figure
out
all
the
possible
ways
in
which
the
technology
can
be
used,
so
I
I'm
sure
there's
more
to
come,
and
then
those
are
good
examples
of
what
we
could
see.
Oh
the
taxation.
Okay.
A
A
G
Mentioned
the
cvdc
and
there
is
a
incentive
for
the
tax
authority
to
look
everything
that
the
citizens
do
for
tax
purposes
in
in
that
sense,
what
do
you
think?
What
is
your
position
about
the
privacy
of
of
the
citizens?
What
is
the
balance
between
knowing
and
taxing
what
they
do
and
knowing
a
lot
more,
that
would
you
need
to
to
know.
A
I
think
that's
that's
a
question
for
for
Colombian
Society
to
answer
as
a
whole.
I'm
going
to
be
perform
honest
from
the
point
of
view
of
the
tax
administration,
we're
interested
in
in
the
traceability
of
transactions,
especially
given
that
the
Colombian
economy
is
so
informal,
and
so
many
people
use
cash
I.
Think,
for
instance,
we
you
know
if
we
could,
if
we
could
offer
people
a
digital
currency
that
is
more
convenient
than
cash
even
safer
than
cash
right
like
if
you're
like.
A
If
someone
steals
cash
from
you,
there's
no
way
of
getting
it
back.
If
it's,
if
it's
highly
traceable
you,
you
may
be
able
to
know
what
happened
to
it
afterwards
right.
So
those
I
think
I
think
there
are
trade-offs
in
life
and
and
I
think
it
would
be
particularly
interesting
for
everyone
involved
to
have
a
digital
currency
that
is
not
100
Anonymous
that
can
be
traced,
but
that
also
offers
extra
safety
beyond
the
the
safety
that
that
cash
can
give.
A
A
If
you
and
yeah,
we
will
be
collecting
them
and
Publishing
an
official
document
answering
them
so
make
sure
to
ask
absolutely
everything
that
you
want
to
ask,
and
this
is
not
the
only
yeah
like
they
will
be
happy
to
share
contact
information
with
you
so
that
we
can
maybe
set
up
a
round
table
between
Dion
and
the
industry
and
and
start
clarifying
some
of
these
questions.
Thank
you
very
much.