Fecoljuegos Calls for Review of Colombia’s Economic Rescue Bill

The Colombian Federation of Gaming Entrepreneurs (Fecoljuegos) is developing a technical proposal to review the government’s Economic Rescue Bill presented on October 29. The federation aims to propose an alternative taxation framework for the gambling sector, citing concerns over current proposals.

What Happened

Fecoljuegos is preparing a technical proposal to analyze Colombia’s proposed Economic Rescue Bill, which the government introduced on October 29, according to iGaming Today. The bill’s stated objectives include stimulating investment, creating employment, and addressing national public finances. Fecoljuegos President Evert Montero indicated that the bill requires more in-depth study before progressing through the legislative process (iGaming Today).

The federation has expressed concerns regarding the proposed taxes on online betting platforms and land-based gambling establishments, arguing that these sectors should not face identical tax burdens. Fecoljuegos announced it is working on an alternative taxation framework designed to consider the distinct economic and operational characteristics of each segment (iGaming Today).

Key Details

• Fecoljuegos is developing a technical proposal to review the Economic Rescue Bill, presented by the Colombian government on October 29 (iGaming Today).
• The federation seeks differentiated tax treatment for online and land-based gambling establishments, citing their distinct cost models and operational structures (iGaming Today).
• Fecoljuegos plans to meet with the Ministry of Finance and economic committees of Congress to present its concerns and alternative plans (iGaming Today).
• President Evert Montero emphasized the need for fair and proportionate taxation that supports public finances without compromising business continuity and legal operations (iGaming Today).

Why It Matters

The gambling sector, represented by Fecoljuegos, contends that a unified tax approach for both online and land-based operations overlooks fundamental differences in their business models, particularly after a challenging economic period. Montero stated that while the industry acknowledges the need to contribute to public finances, any legislative initiative should be open to discussion and technical adjustments to ensure sector sustainability (iGaming Today).

A key aspect of Fecoljuegos’ proposed review is the differentiation between legal and illegal gambling. The federation argues that intense or disproportionate requirements on licensed operators could impact their competitiveness, inadvertently benefiting unauthorized platforms that do not contribute to the regulatory or fiscal framework. Protecting investment and employment within the regulated market is also presented as crucial for maintaining a funding source for public healthcare, according to Montero (iGaming Today).

What’s Next

Fecoljuegos is scheduled to meet with the Ministry of Finance and the economic committees of Congress. These discussions are intended to inform the legislative process by highlighting technical issues relevant to the gambling industry and presenting the federation’s alternative proposals (iGaming Today). Montero stressed the objective of finding a solution that aids the country while preserving legal business activity (iGaming Today).