Colombia plans new taxes for iGaming and crypto markets

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Colombia plans new taxes for iGaming and crypto markets

Together with the Ministry of Finance, Colombia’s National Tax and Customs Authority (DIAN) is working on new rules to change the taxation system for iGaming and cryptocurrency transactions.

The proposal was announced during the 59th Banking Convention in Cartagena and included not just iGaming and crypto transactions but also virtual wallets, cryptocurrency exchanges, and other digital service providers.

Currently, these areas operate in a grey zone, with unclear or no rules about taxes. The government wants to close these gaps by creating a specific tax framework for them. This would help make sure that all businesses, regardless of whether they are online or offline, contribute to Colombia’s tax system.

Luis Eduardo Llinás, DIAN’s director, explained

“We are studying with the Ministry of Finance new control mechanisms and the possibility of a new tax reform in the sense of not increasing taxes but establishing new controls for some sectors of the economy that currently do not tax us or that tax us in an undue way.”

Recently, Colombia has introduced a system to pay income taxes in advance. The Colombian gaming industry has already raised concerns about this measure.

Llinás commented:

“Withholding tax is not a new tax but an advance payment of income tax. Some analysts say that new taxes were created or that we increased them. It is an advance payment of the tax with which the collection of 2026 is collected in advance and which will generate a cash flow that we estimate at COP 7 trillion.”

With these changes, Colombia may soon make a reform in the taxation system.


FAQs

Is gambling legal in Colombia?

Gambling in Colombia is legal and regulated by Coljuegos.

What is the legal gambling age in Colombia?

The legal gambling age in Colombia is 18.

Eliza Galstyan
Eliza Galstyan Web Content Writer

With a degree in linguistics and translation, I create content that speaks the language of iGaming. My passion for turning topics into content that connects, informs, and entertains led me to specialize in writing for the iGaming industry. Over the past year with AffPapa, I have covered industry insights with different news, articles, and opinion pieces.

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