Colombia VAT Bill Would Tax Deposits, Not Gaming Revenue

BOGOTA, Colombia – Colombia’s finance ministry asked Congress on Oct. 29 to extend the country’s 19% value-added tax to online wagering, with the bettor’s deposit as the taxable event. The Colombia VAT bill would tax the money bettors put in, not the gross gaming revenue operators keep, which is the base of the 16% levy in force this year. Shares of Rush Street Interactive, the BetRivers parent listed on the New York Stock Exchange, fell 11% on Oct. 30.