Colombia to debate tax increase on online gambling

Colombia to debate tax increase on online gambling

Article brief provided by SBC News
  • Ted Menmuir, SBC News
February 12, 2024 6:57 PM

The Senate of Colombia (upper house) has confirmed that tax measures on online gambling will be reviewed to support the government’s plans to overhaul the nation’s public welfare and healthcare systems.

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Debates are scheduled to begin this week on Friday, February 16, led by Senator Antonio Correa of Partido de la Union.

In 2016, Colombia modernised its Gambling Act (2001) by approving new laws to govern online gambling products and services, becoming the first South American nation to launch a regulated and taxed online gambling regime in 2017, open to foreign and domestic businesses.

Senators will review Colombia’s current tax framework for online gambling, which charges a 15% GGR rate on licensed operators who maintain a return-to-player (RTP) of 83% of total stakes.