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Brazil finance minister backs continued taxation of betting companies

Regulation

Brazilian Finance Minister Fernando Haddad defended continuing the proposed tax on banks, betting companies and billionaires during a Senate public hearing on 14 October. He said the government would begin discussions on alternatives to the expired measure, while betting executives had called for tax balance to support regulated operators and efforts against illegal firms.

Any replacement tax proposal could change the fiscal obligations of regulated betting companies in Brazil.

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Regulation

Brazil finance minister calls for tighter betting rules and higher taxes

Brazil Finance Minister Dario Durigan called for stricter betting regulation, higher taxes and tighter advertising limits, saying the sector’s growth had become a government concern. In an interview, he argued against a full ban because it could push activity into illegal channels and said the government had asked the Comptroller General of the Union to help review cases and disclose data proactively.

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