SectorWire
SearchRegister
MenuClose

Brazilian parliamentary group opposes proposed betting tax increase

Regulation

Brazil’s Free Market Parliamentary Front published a manifesto opposing a proposed rise in betting companies’ tax rate from 12% to 18%. The group said the change could raise the sector’s total tax burden to 56.25% where municipal service tax is 5%, and argued that higher costs could undermine licensed operations and reduce government revenue.

The proposal could change tax costs for authorised betting operators in Brazil and affect government revenue expectations.

Request a correction

Flag an issue

Keep reading

Regulation

Brazilian senators cancel committee meeting on proposed bets tax increase

Brazil’s Senate Economic Affairs Committee cancelled a meeting that was due to consider a bill raising taxes on betting companies and financial firms, according to the report. Senator Renan Calheiros said the cancellation followed a call in which Chamber of Deputies president Hugo Motta told Senate president Davi Alcolumbre he would not put the proposal to a vote in the lower house. The bill proposed doubling the betting revenue tax rate from 12% to 24%.

Continue reading