Colombia’s National Tax and Customs Authority drafts new tax measures to regulate online gambling
Summary
The National Tax and Customs Authority (DIAN) of Colombia, along with the Ministry of Finance, is drafting a new regulatory framework for the online gambling industry. This proposed framework may be included in a future tax reform, aiming to address the regulation of cryptocurrency transactions and online gambling.
Key Points
- The new tax measures are intended to ensure that unregulated sectors contribute adequately to the tax system.
- Director Luis Eduardo Llinás emphasised these changes are not about increasing existing taxes but establishing new regulations.
- Transactions involving cryptocurrencies and online gambling will be specifically targeted under the upcoming tax reforms.
- A recent decree regarding income tax prepayments has sparked controversy within the gaming industry.
- The proposed reform aims to generate a significant cash flow for the government, estimated at COP 7 trillion.
Why should I read this?
If you’re keeping your finger on the pulse of the gaming and betting industry, this article hits the mark. Colombia’s moves to regulate online gambling could have ripples throughout Latin America, impacting businesses and players alike. Don’t miss out—this could shape the future of online gaming in the region!