Brazil senator proposes 15% CIDE-Bets levy on transfers to betting platforms
Senator Alessandro Vieira presented a report proposing a 15% CIDE-Bets contribution on transfers by individuals to fixed-odds betting platforms in Brazil. The proposal would have financial institutions withhold the levy when funds are transferred, with proceeds directed to the National Public Security Fund after collection costs; the Senate Constitution and Justice Committee was due to examine it on 3 December.
If enacted, the proposal would impose a new charge on customer transfers to betting platforms.