As part of the ongoing economic emergency declared by the Petro government—following Decree 1390 of December 31—the Ministry of Finance issued Decree 1474 of December 2025. The decree introduces tax hikes including 19% VAT on liquors and online games, reduced thresholds for asset taxes, surcharges on financial income, levies on hydrocarbons and coal extraction, adjustments to cigarette taxes, and temporary reductions in penalties for overdue debts to support the 2026 General Budget.
Decree 1474 builds on prior emergency measures to address fiscal needs. Key changes include:
VAT on liquors and games: A 19% VAT applies to liquors, wines, aperitifs (previously under consumption tax), affecting departmental monopolies. Online games of chance (domestic or foreign) face 19% VAT on gross income (total bets minus prizes paid bimonthly).
Asset tax: Threshold lowered from 3.6 billion to 2 billion pesos, with progressive rates up to 5% for assets exceeding 100 billion pesos.
Financial sector: Additional 15 percentage points on income and complementary taxes, plus a 15% surtax applied ongoing.
Hydrocarbons and coal: Temporary tax on first sales or exports within/from Colombia.
Cigarettes and tobacco: Consumption tax excludes artisanal chicote; Dane certifies taxable bases.
Debt relief: Penalties and interest reduced temporarily for tax, customs, and exchange debts overdue by December 31, 2025, until March 31, 2026.
These aim to fund 2026 budgetary shortfalls, though long-term impacts are unclear.
