Stake Colombia is absorbing the impact of the newly introduced 19% VAT on online gambling deposits by launching a Cashback IVA promotion.
Under this initiative, users will receive a cash bonus equivalent to the VAT deducted from their deposits, effectively nullifying the tax’s impact. This measure comes in response to the Colombian Government’s recent decree aimed at raising funds for the humanitarian crisis in the Catatumbo region.
The tax remains in effect until December, but Stake Colombia users will not experience additional costs on their deposits due to this operator-backed incentive.
Diana Otálora, General Country Manager of Stake in LatAm, mentioned:
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.
