Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-G3J86B

Colombian betting industry regulations do not allow 'international liquidity'

in Colombia

Trade barrier summary

The current Colombian regulation is not clear enough about accepting international liquidity, because the current definition of "Apuesta Cruzada" (back and lay bets) is ambiguous. Some changes in the regulation could be useful to clarify the scope and facilitate entrance into the market for UK businesses: 1) stating that the definition of "Apuesta Cruzada" can be interpreted, covering bets made by customers registered in jurisdictions outside Colombia, and 2) defining the tax base for calculating the so-called "exploitation rights" to ensure that betting exchanges that will be regulated in Colombia, are taxed on the commission they charge to their winning customers - as already outlined in Article 3(18) of the regulation.

Sectors affected

  • Sports economy

Resolved

No

Date reported

18 August 2020

Last updated

1 February 2021

Public ID

PID-G3J86B

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