Brazil senator proposes 15% Cide on betting deposits in bill report
Senator Alessandro Vieira included a proposed 15% Cide on deposits made by individuals to betting operators in his report on Brazil’s Antifaction Bill on 6 February. The measure could allow some sponsorship contracts between betting companies and football clubs to be terminated under clauses covering major tax changes, according to the article. After Senate approval, the amended text returns to the Chamber of Deputies for review.
The proposed deposit levy could raise operator costs and trigger contract termination clauses for some football-club sponsorships.