Brazil raises proposed gambling tax rate from 12% to 18% of GGR
Brazilian Finance Minister Fernando Haddad confirmed a proposed increase in gambling tax from 12% to 18% of gross gaming revenue as an alternative to raising the financial transactions tax. The provisional measures are not yet in force and require approval from the Chamber of Deputies and the Senate; the Brazilian Institute of Responsible Gaming objected to the proposed change.
Operators’ tax costs could rise, but the change still requires approval by both houses of Congress.