Colombia brings back 19% VAT proposal on betting deposits

A new tax bill in Colombia has proposed bringing back a 19% VAT on online gambling deposits, using wording identical to the previous government’s reform that Congress rejected in 2025.

President Abelardo de la Espriella’s government presented Bill 477 of 2026 on October 29, 2026. Article 41 would apply the tax to the full amount a player tops up, before any bet is placed, and would cover offshore operators. A player depositing COP 100,000 would have around COP 81,000 left to bet with, and any winnings would then face a 30% tax on prizes from betting, lotteries and raffles.

Juan Camilo Carrasco, Managing Partner at Sora Lawyers, said:

“It has articles exactly the same as Petro’s reform. It gives the impression that the government did not work on the articles affecting the sector at all.”

Colombia first taxed deposits in February 2025 under an emergency measure, and has since switched between deposits and gross gaming revenue through a series of decrees.

Trade body Fecoljuegos says it is willing to contribute more but plans to submit a counter-proposal. Ordinary sessions in Congress end on December 16, 2026, and approval of the bill is linked to a planned IMF credit line.