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 working on new regulations that will impact the online gambling sector. These measures, which could be included in a future tax reform, aim to tax cryptocurrency transactions and better regulate online gambling.
According to DIAN’s Director, Luis Eduardo Llinás, the focus is not on raising existing taxes but ensuring unregulated sectors make appropriate contributions to the tax system.
Key Points
- DIAN is drafting a regulatory framework for online gambling and cryptocurrency transactions.
- The goal is to fill regulatory gaps without increasing existing tax rates.
- Proposed measures may also include taxing virtual wallets and exchanges.
- A new tax reform could provide the necessary controls for currently unregulated sectors.
- Recent implementation of advance income tax has already stirred discussions in the gaming industry.
Why should I read this?
If you’re involved in the online gambling scene or crypto in Colombia, this article is a must-read! It’s all about how the Colombian tax authority is shaking things up to make sure everyone pays their fair share. Catch up so you know what might be coming your way!