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Brazil finance minister warns betting firms could face bans over unpaid taxes

Regulation

Brazilian Finance Minister Fernando Haddad said the government could consider banning betting companies that fail to pay taxes after Congress rejected Provisional Measure 1,303. The proposal would have raised the betting tax rate from 12% to 18%; Haddad said he would discuss alternative revenue measures with the president and congressional leaders.

Operators face a possible ban if the government pursues the minister’s warning over unpaid taxes.

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Regulation

Brazil finance minister backs continued taxation of betting companies

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.

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