Arthur Lira, president of the Brazilian Chamber of Deputies, assures that the bill that seeks to regulate sports betting will be voted on next week. If the bill, which has the status of “constitutional urgency”, is not voted on before September 9, it will block the voting agenda of the Chamber of Deputies.
Several of the most controversial points of the bill lie in the taxation rules it imposes on companies in the sector, consisting mainly of an 18% tax on gross income. Also, the prize received by the gambler will be taxed at 30%, except for amounts up to BRL 2,112 ( $434), which will be exempted.
The regulation also provides that betting companies will only be able to operate in Brazil if the federal government approves their accreditation, for which they must pay a license fee, be headquartered in the country, and have a minimum capital of BRL 100,000 ($ 20,000).
The proposal also provides for a series of rules to prevent illegalities in the sector, such as the prohibition of betting by players, referees, managers, and minors under 18 years of age.
The Provisional Measure (PM) that taxes gambling was announced in July, following a compromise where it was agreed that the proposal would be divided into two texts, a PM and a bill. The federal government’s idea is to pass the bill in Congress within the term of the MP, which is four months. As a result, the temporary measure could expire without the gambling tax being reversed.
However, it would seem that the intentions of the parliamentarians would go against the wishes of the Ministry of Finance, which seeks to approve the regulation soon in order to raise up to BRL 12 billion (about $2.5 billion). The tendency in the Chamber is for the text of the Provisional Measure, which focuses on taxation, to be incorporated into the bill, which deals with the structure and administrative inspection processes.
Original article: https://www.yogonet.com/international/noticias/2023/08/31/68571-deputy-arthur-lira-says-brazil-sports-betting-bill-set-to-be-approved-next-week
