IBJR warns Brazil’s Senate Cide-Bets proposal could favour illegal betting

The IBJR warned Brazil’s Senate that the proposed Cide-Bets levy could give illegal betting platforms a price advantage. The proposal under discussion would impose a 15% charge on transfers by individuals to platforms, while the IBJR said the design could weaken the regulated market and reduce existing tax receipts. The measure is being considered by the Senate’s Constitution and Justice Committee.