The Colombian Federation of Entrepreneurs of Games of Chance and Luck (Fecoljuegos) has once again sounded the alarm over increased taxes on the industry and the effect it will have on the Colombian health service. Fecoljuegos says that in 2024, approximately COP $436 billion were allocated to the health system but this is projected to drop by 30%. Evert Montero, president of Fecoljuegos told press that the main trigger has been the 19% tax imposed on user deposits.
Montero also argued that ongoing pressure on the industry could strengthen illegal activities.
“We see it becoming more entrenched every day; there is a new platform where you can bet on any activity, even on who will be the next president of the republic,” Montero said. “This is an urgent call to the national government; attention needs to be paid to these platforms that are allowing bets on political activities,” he said.
In addition jobs are at risk due to new labour reforms. In the online sector, approximately 130,000 direct jobs are in jeopardy if conditions do not improve. “Much of the sector’s activity takes place during nights and weekends, and the reform has significantly increased the tax burden,” he noted. He also pointed out that while legal operators adhere to labour standards, illegal operators take advantage of workers without any regulation.
Montero noted that prior to the new tax coming into effect, the sector generated around COP 40 billion monthly for the health system. However, after the reform, that figure fell to COP 28 billion, representing a 30% decrease. “The health sector is losing some very important resources,” Montero warned.
The government estimates that the sector represents 4.5% of the GDP. However Montero disputes this “They have based it on distorted figures. The real income of online operators is 2.9 trillion pesos, which represents 0.8% of the GDP,” he said.
Montero made his comments during a Journalists’ Workshop which took place in Bucaramanga a space specifically designed to bring the media closer to knowledge and understanding of the gambling industry in Colombia.
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The Colombian Federation of Entrepreneurs of Games of Chance and Luck (Fecoljuegos) has once again sounded the alarm over increased taxes on the industry and the effect it will have on the Colombian health service. Fecoljuegos says that in 2024, approximately COP $436 billion were allocated to the health system but this is projected to drop…
The post Fecoljuegos sounds alarm over illegal gambling in Colombia amidst tax hike appeared first on G3 Newswire.