Colombia’s National Tax and Customs Authority drafts new tax measures to regulate online gambling
Summary
Colombia’s National Tax and Customs Authority (DIAN), alongside the Ministry of Finance, is setting the stage for a new regulatory framework aimed at the online gambling sector as part of a future tax reform. Director Luis Eduardo Llinás has highlighted the necessity of implementing specific taxes for cryptocurrencies and online gambling transactions, addressing regulatory gaps in these emerging economic activities.
Key Points
- DIAN is developing a new regulatory framework for online gambling which may be included in future tax reforms.
- The measures aim to ensure unregulated sectors contribute to the tax system without raising existing taxes.
- New controls are being studied for cryptocurrencies and virtual wallets.
- Recently introduced advance payment of income tax regarding withholding tax is raising questions within the gaming industry.
Why should I read this?
This article highlights crucial developments in Colombia’s approach to regulating online gambling and cryptocurrencies. With evolving regulatory landscapes, understanding how these measures will operate is essential for industry stakeholders. This is not just about taxes; it’s about shaping the future of online gambling in Colombia.