Brazilian officials back proposed increase in betting tax from 12% to 18%
Brazilian government relations minister Gleisi Hoffmann and congressional government leader Randolfe Rodrigues backed raising taxes on betting companies as part of a proposed package to offset changes to the IOF financial transactions tax. Rodrigues said a provisional measure was in final adjustments; one proposal would increase betting taxation from 12% to 18%, but congressional approval is not assured.
The proposal would raise betting operators’ tax rate if included in the measure and approved by Congress.