Colombia

Executive Order 175 of 2024 established certain special taxes in response to the state of internal commotion declared due to security concerns in the Catatumbo region. 

1. VAT on Online Gaming 

• Online games of chance and gambling operated exclusively via the Internet, whether within Colombia or from abroad, will now be subject to VAT. 

• For non-Colombian service provider, they are to be required to register, pay and remit VAT in Colombia under non resident rules, which demands a bimonthly filling. 

2. New Special Tax for the Extractive Industries  

• Applies to the production of crude/ coal at a 1% rate.  

• The tax is accrued at the first sale within or from Colombia and/or at the export shipments. 

• Taxable base for local sales is the price amount while for exports the FOB value. 

3. 1% Stamp Tax 

• Applicable at the execution of public or private documents that establish, modify, or extinguish obligations within Colombia. 

These new taxes will come into force form February 22, 2025 and will remain in effect until December 31, 2025.