Colombia Introduces Temporary Taxes to Address Catatumbo Security Crisis

The Colombian government is introducing three temporary taxes to generate funds to address the security crisis in the Catatumbo region. The Catatumbo region, located in northeast Colombia near the Venezuelan border, has seen a rise in violence due to clashes between illegal armed groups.

The three temporary taxes include:

• A 19% VAT on online gambling;
• A 1% surtax on coal and oil sector exports; and
• A 1% stamp duty on the value of property deeds.

The taxes will be in effect for up to 90 da…