Colombian government imposes temporary 19% online gambling VAT
Colombia’s government introduced a 19% VAT on online gambling, effective for 90 days, according to the report. Deputy Finance Minister Juanita Villaveces said the administration introduced the measure alongside taxes on the oil industry and stamp duty to raise funds amid a security crisis. The gambling tax is expected to generate about 519 billion pesos; the report says the current rate is around 15-17%.
Online betting platforms face a temporary tax increase that could affect their operating costs and prices to users.