🎲 Colombia Sets 19% VAT on Gambling

Colombia has announced a significant tax update for the gambling sector, applying a 19% VAT to all games of chance. This move, part of a broader fiscal strategy by Finance Minister Germán Ávila, aims to boost revenue by 2026 while tackling budgetary challenges. Operators and players in Colombia will face operational and consumption adjustments, but the government stresses this is essential for fiscal sustainability. While recognising the potential for industry debate, Ávila is optimistic about balancing economic growth with fiscal needs. 🇨🇴💰