President Gustavo Petro’s government introduced its fifth tax reform proposal just days before the end of its term. The measure aims to raise COP 21.8 trillion (USD 6.75 billion) in 2027 and proposes making the 19% Value Added Tax (VAT) on games of chance operated over the internet permanent.
President Gustavo Petro’s government in Colombia has put forth its fifth tax reform proposal shortly before the term concludes. The new measure targets a revenue increase of COP 21.8 trillion (USD 6.75 billion) by 2027. One significant aspect of the proposal is the plan to make the 19% Value Added Tax (VAT) on online gambling activities a permanent fixture.
The primary objective behind imposing this VAT on online gambling is to generate tax income amounting to approximately COP 1.7 trillion (USD...).
