Stake Colombia introduces promotion for users in response to new tax rate
The 19% VAT tax came into effect on 22 February.
Key points:
– New tax measure introduced by Colombian Government as part of efforts to help humanitarian crisis in the Catatumbo region
– Users will receive a cash bonus equal to the amount discounted for VAT on their deposit
In response to the new tax rate on online gambling in Colombia, Stake Colombia has announced it will cover this cost for its users.
The Colombian Government issued a decree earlier this month, which came into effect last week and will remain in place until December, which imposes a 19% VAT tax on cash deposits for online gambling.
But this new tax measure, which has been issued in an effort by the Government to help raise funds for the humanitarian crisis in the Catatumbo region, will not affect Stake Colombia users.
The crypto-based operator has created a Cashback IVA promotion, which will ultimately cover the tax by giving its users a bonus equal to the amount discounted for VAT on their deposit; this will then be credited as a cash bonus once the deposit is made.
Good to know: Stake will no longer operate in the UK market from next month after an investigation by the Gambling Commission into a video that featured the Stake logo and an actress from the adult industry
Stake General Country Manager in LatAm Diana Otálora said: “At Stake Colombia, our users are our top priority, and that’s why we have to adapt to the government’s measure regarding the 19% tax and comply with the required deadlines.
“Therefore, we are adopting internal measures so that our customers can continue playing without being affected by this situation.”
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