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Senator Eduardo Braga proposes gradual tax rises for betting firms

Regulation

Senator Eduardo Braga, rapporteur of a bill on taxes for betting companies and fintechs, said he would propose a gradual tax increase at a lower level than currently debated in the Senate. He said the proposal would also target illegal-market activity, including reporting certain large payment flows to the financial intelligence council; the source did not state a proposed rate.

The proposal could change betting companies’ tax burden and reporting obligations if adopted.

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Regulation

Brazil senator proposes fund financed by a tax on online betting

Senator Alessandro Vieira said his report on Brazil’s anti-organised-crime bill would propose a fund financed by a new tax on online betting companies. He said the fund’s resources and management would be shared by state governments and the federal government, and that the money would support investment and strategic actions rather than salaries. If a separate fund faces resistance, he said a dedicated allocation within the National Public Security Fund is an alternative.

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