IBJR criticises proposed increase in Brazil betting tax to 24%

IBJR acting president André Gelfi said Brazil’s government was treating betting as a quick source of tax revenue and had not maintained dialogue with the sector. He criticised a bill from PT leader Lindbergh Farias that would raise the tax on betting companies’ gross gaming revenue from 12% to 24%; Gelfi warned of business closures, revised investment and growth in the illegal market.