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Braga makes Brazilian betting tax increase conditional on action against illegal operators

Regulation

Senator Eduardo Braga said Brazil should address illegal gambling and payment operations before increasing taxes on licensed betting companies. The bill under Senate consideration would raise the rate from 12% to 24%; Braga said the vote could be postponed if the Treasury Ministry and Central Bank do not present measures to block irregular Pix transactions.

The condition could affect the timing and terms of a proposed tax increase for licensed betting operators.

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Eduardo Braga says Brazil betting-tax vote may come next week

Brazilian senator Eduardo Braga said a vote on a bill raising taxes on betting platforms, fintechs and banks could take place the following week if the Finance Ministry provides requested information. The bill proposes increasing the rate on online betting revenue from 12% to 24%; Braga said the ministry’s material should include action against illegal platforms.

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