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, in collaboration with the Ministry of Finance, is developing a regulatory framework aimed at the online gambling sector. These measures may be included in an upcoming tax reform, focusing on taxing cryptocurrency transactions and ensuring unregulated sectors contribute fairly to the tax system instead of increasing current taxes.
Key Points
- New regulatory measures are being prepared to regularise the online gambling industry in Colombia.
- The initiative aims to implement taxes on cryptocurrency transactions associated with online gambling.
- The Director of DIAN clarified that these adjustments are not about increasing taxes, but ensuring compliance from currently unregulated sectors.
- Recent advancements include a decree on income tax prepayments which has faced criticism from the gaming sector.
- The reform is expected to have significant implications for how the gaming industry operates and contributes to the national revenue.
Why should I read this?
If you’re involved in online gambling or just curious about its regulation in Latin America, this article is essential. Understanding these upcoming tax measures can provide insights into how the industry will evolve and what compliance might look like in the future. Stay ahead of the curve and find out how it might affect your interests.