Colombia

Gambling sector in Colombia being used for political purposes says Fecoljuegos

In a press release, the Colombian Federation of Entrepreneurs of Games of Chance and Gambling (Fecoljuegos) expressed its stance on the latest decisions made by the national government regarding the proposed 19% tax on online gambling.

The federation reiterated their commitment to legality, transparency, and the economic development of the country, despite the imposition of the new tax by the authorities.

“In times when the country demands consensus and solutions, we call upon those who currently hold the significant responsibility of representing institutions and leading national debates to refrain from using discourse that may instrumentalize economic sectors like ours for political purposes. The gambling industry is formal, regulated, and overseen by Coljuegos and the National Health Superintendence. Additionally, we work alongside organizations such as the Financial Information and Analysis Unit (UIAF), the United Nations, the Financial Superintendence, and other entities that contribute in various ways to strengthening the industry. Our compliance with transparency, anti-money laundering, and counter-terrorism financing regulations is rigorous, ensuring traceable and secure operations.”

According to Fecoljuegos, over 300,000 families rely directly and indirectly on the gambling sector, which includes around 3,500 authorized establishments and certified digital platforms. This industry not only generates formal employment but also plays a crucial role in the nation’s development. In 2024, it contributed over 990.592 million pesos to the health system, becoming a key funding source for social welfare policies.

“Therefore, we believe it is essential that any discussion about the sector is conducted with seriousness and within a technical framework, recognizing the difference between companies that comply with regulations and those that operate outside the law. Misguided generalizations only create uncertainty in the market and affect investor confidence in Colombia,” the organisation said.

In February the Ministry of Finance decreed three new taxes that will be in effect until December 31, 2025, with the aim of financing expenses related to the state of internal commotion in the Catatumbo region. The new fiscal measures affect online gambling, the export of oil and coal, and national stamp tax. With Decree 0175 of February 14, 2025, a 19% tax was established on online games of chance, a 1% levy on national sales and exports of oil and coal, and a 1% tax on the stamp duty for transactions exceeding $300 million.