Brazil finance ministry makes payment firms liable for illegal betting taxes
Brazil’s Ministry of Finance issued an ordinance making banks, financial institutions and payment institutions jointly liable for taxes owed by unlicensed fixed-odds betting operators after formal notification. The SPA and Federal Revenue Service must give notified institutions 24 hours to restrict transactions; advertisers of unlicensed betting operations may also face liability without prior notice.
Payment providers and advertisers face defined tax exposure and obligations when facilitating unlicensed betting in Brazil.