- Colombia’s Tax Reform Bill proposes major VAT changes across multiple sectors, including online gambling, vehicles, fuels, alcohol, imports, and tourism services.
- Online gambling and sports betting would move to a permanent 19% VAT rate from 1 January 2027; hybrid vehicles would rise to 19% VAT immediately, while electric vehicles keep the preferential rate.
- Fuel taxes would increase in stages, with producer-level VAT on gasoline and diesel rising to 10% in 2027 and 19% in 2028, and VAT also applied to biodiesel, ethanol, and retail margins in the supply chain.
- The bill would also apply 19% VAT to alcoholic beverages, remove the low-value import VAT exemption, and end the VAT exemption for hotel stays by non-resident foreign tourists.
- Other changes include replacing VAT exemptions for renewable energy projects with zero-rated treatment and increasing the national consumption tax from 16% to 19% from 2027.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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