Haddad backs proposed Brazil betting tax increase worth R$5bn in 2026

Brazil’s finance minister Fernando Haddad said on 5 November that proposed tax increases on betting operators and fintechs could raise about R$5bn in 2026. A bill before the Senate’s Economic Affairs Committee would raise the tax on betting gross gaming revenue from 12% to 24%; Haddad said the government had included the projected revenue in its 2026 budget planning. The committee president said a vote was due by 11 November.