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Brazil sports ministry proposes committee to oversee betting revenue transfers

Regulation

At a 3 September hearing on betting revenue and sports financing, Brazil’s Sports Ministry secretary Giovanni Rocco proposed a permanent transparency committee between the Sports and Finance ministries to monitor transfers to sports organisations. Representatives at the hearing called for greater transparency, while Rocco said betting revenue supported football investment and called for responsible discussion of advertising.

A proposed committee could give the ministries a continuing role in monitoring betting-linked transfers to sports organisations.

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Regulation

Brazilian Senate committee weighs 15% levy on betting transfers

Brazil’s Senate Constitution and Justice Committee was due to consider a proposal on 10 December to establish a levy on fixed-odds betting transfers. The proposed CIDE-Bets would apply a 15% rate to transfers from individuals to betting platforms and be withheld by financial institutions. The report cited Central Bank data estimating annual proceeds of up to R$30bn, earmarked for the National Public Security Fund after collection costs.

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