Colombia continues ‘critical’ spending reform with gambling tax review

Colombia’s online gambling tax measures are set to be reviewed as the Senate of Colombia continues to overhaul public welfare and healthcare systems in the nation.

Scheduled to begin on Friday, February 16, the debates will be led by Senator Antonio Correa of Partido de la Union.

Colombia revamped its Gambling Act (2001) back in 2016, approving new laws to govern online gambling products and services. This saw the country become the first in South America to launch a regulated and taxed online gambling regime in 2017, open to foreign and domestic businesses.

In the upcoming debates, senators in the upper house will review the current tax framework for online gambling, which currently charges a 15 per cent GGR rate on licenced operators that maintain an RTP of 83 per cent of total stakes.

For those companies that register an RTP percentage above 83, a 17 per cent GGR rate is charged.

The overhaul of Colombia’s public welfare and healthcare systems is recognised as the principal ..