Colombia's Ministry of Finance submitted bill 477 de 2026, also known as the Ley de Rescate Economico, to the House of Representatives on October 29, 2026. The bill was filed that Thursday with the House's General Secretariat. It proposes applying VAT to deposits that players make into accounts with online operators, whether in cash or crypto assets.
The 19% rate does not apply to the full deposit. The taxable base equals the deposit divided by 1.19, and 19% is applied to that base. In practice that is about 16% of the amount deposited. The operator is responsible for paying the tax, including operators based abroad.
Traditional lotteries would be exempt. Slot machines are taxed on a different basis: 40 tax value units (UVT) per machine. At the same time, the tax on prizes from lotteries and betting rises from 20% to 30%.
The Ministry expects additional revenue of about $620 million (2 trillion pesos) in 2027 and an average of $710 million (2.3 trillion pesos) a year in 2028–2030, at an exchange rate of 3,235.59 pesos per dollar as of November 4. The bill also allows blocking foreign websites at the level of internet providers.
The bill is now under review in the House committees. According to the House record, it has been assigned the number 477 de 2026 and is in committee. Fecoljuegos, the industry body that groups casinos, bingo halls and bookmakers, is preparing its own proposal for the Ministry of Finance and Congress. It said it will present its own tax scheme to both.
There is a precedent. The tax reform bill also envisaged a 19% VAT on gambling, which the sector strongly opposed both in that earlier bill and when the measure was introduced by decree in February 2025.
The next step is for the bill to be considered by the economic committees of Congress.
