Brazil's Receita Federal sets GGR as PIS/Cofins tax base for betting firms
Brazil's Receita Federal defined gross gaming revenue as the PIS/Pasep and Cofins tax base for fixed-odds betting companies, according to two consultation rulings published in the official gazette on 28 July. The guidance says amounts collected for others, including statutory allocations to public funds and beneficiary entities, are excluded from taxable gross revenue and applies to retail and online betting.
The guidance clarifies which betting receipts are included in operators' PIS/Pasep and Cofins tax base.