Colombia targets digital economy with new tax plans for crypto and online betting

Colombia’s tax authority, the Dirección de Impuestos y Aduanas Nacionales (DIAN), is preparing new regulations to bring online gambling and cryptocurrency transactions under stricter oversight. According to a report by El Nuevo Siglo, the initiative is being developed in coordination with the Ministry of Finance and could be incorporated into a future tax reform aimed at improving fiscal control and ensuring appropriate taxation for these digital sectors.

The announcement was made by Luis Eduardo Llinás, acting director of DIAN, during the 59th Banking Convention held in Cartagena. Llinás stated that the goal is not to impose new tax burdens but to close existing gaps and ensure all economic activities contribute fairly to public finances.

“We're looking at e-commerce, online betting platforms, virtual asset service providers, digital wallets, crypto exchanges — essentially the entire virtual ecosystem,” Llinás said.

He pointed out that DIAN has identified "multi-million-dollar movements involving cryptocurrencies" taking place in an environment that remains insufficiently regulated. While some changes could be enacted through executive decrees, a comprehensive regulatory framework would require debate and approval in Congress.

This regulatory move comes amid broader efforts by the government to strengthen public revenue, following a challenging year for tax collection. However, the latest figures show signs of improvement: as of April 2025, tax revenue reached 94.62 trillion pesos, a 9.7% increase compared to the same period in 2024, when revenue stood at 86.23 trillion pesos.

To reinforce this trend, the government has also implemented adjustments to the income tax withholding system.

Addressing recent concerns from the private sector, Llinás clarified that the change to retención en la fuente (withholding at the source) is not a new tax but rather an advance payment of the 2026 income tax. This adjustment is expected to provide the state with around 7 trillion pesos in immediate liquidity.

“This will help ease the country’s fiscal situation and support our revenue targets,” Llinás said, adding that the recovery of sectors like tourism, commerce, and industry will play a key role in achieving the 2025 collection goals set by the Fiscal Policy Council (CONFIS).