"The court ruled that Decree 1390, signed by Petro's full cabinet last December, exceeded the president's constitutional powers. Magistrate Carlos Camargo Assis called the move an affront to the operation of Congress."
"The ruling prevents Petro from collecting approximately $3.1 billion through emergency fiscal measures, including the 19% VAT on online gambling gross gaming revenue and increased VAT on alcoholic beverages."
"The saga began last February, when Petro's administration first introduced a 19% VAT on online gambling deposits as a temporary emergency measure to fund the response to civil disturbances in the Catatumbo region."
Colombia's Constitutional Court ruled on April 9 that President Gustavo Petro's economic emergency decree was unconstitutional, ending attempts to impose a 19% VAT on online gambling. The court found that the decree exceeded presidential powers and mandated that any future gambling tax must go through Congress. This ruling prevents the collection of approximately $3.1 billion in taxes. The decree also included increased taxes on alcoholic beverages and luxury items, and the initial VAT on online gambling led to a reported 30% drop in gross gaming revenue.
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