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 is crafting a new regulatory framework targeting the online gambling industry, in tandem with the Ministry of Finance. This initiative could feature in an upcoming tax reform aimed at establishing a tax framework for cryptocurrency transactions and online gambling.
Director Luis Eduardo Llinás has stated that the intent is not to augment existing taxes, but rather to ensure comprehensive tax contributions from previously unregulated sectors. The upcoming adjustments would include oversight of virtual wallets, exchanges, and providers of virtual asset services.
Significantly, the decree concerning advance income tax payments has raised concerns within the gambling sector, with Llinás clarifying that this measure is not a new tax but rather an advance payment expected to generate considerable cash flow ahead of the 2026 collection period.
Key Points
- The DIAN is proposing new tax measures to regulate online gambling in Colombia.
- The measures may be integrated into the upcoming tax reform, targeting cryptocurrency and online gambling transactions.
- The intent is to ensure sectors currently unregulated contribute adequately to the tax system.
- Recent advances in tax payments have drawn scrutiny from the Colombian gaming industry, clarifying that these are advance income tax measures, not new taxes.
- Projected cash flow from these measures is estimated at COP 7 trillion for future fiscal periods.
Why should I read this?
Staying on top of this article’s details is crucial if you’re interested in the evolving landscape of online gambling regulations in Colombia. With new tax measures potentially impacting businesses and consumers alike, understanding these developments will help you navigate the shifts in this fast-paced industry.