Senator Angelo Coronel the rapporteur of the sports betting bill in the Senate’s Economic Affairs Committee has said that he intends to maintain the 18% GGR taxation rate for online casinos and reduce the sports betting tax rate to 12%. The bill has already passed through the Chamber of Deputies and is being processed urgently in the Senate. If the change is actually made and approved by senators, the matter will have to be re-evaluated by deputies.
Asked about the reason for the change, the rapporteur explained that the aim is to achieve “fiscal justice”
“Today, we estimate that 60% of companies in the country are online gaming companies and 40% are sports betting companies, approximately. With these two rates, tax justice is achieved,” he said.
The rapporteur will meet next Wednesday with the minister of finance Fernando Haddad and, the following day, with the president of the house of deputies Arthur Lira, to verify the feasibility of the adjustments. “The objective is to write a text that won’t have approval problems. I’ll round it up. I’ll talk to everyone,” said Coronel.
Senator Angelo Coronel is a long time supporter of the liberalisation of the market. The senator has put forward a number of bills and proposals over the years that would end Brazil’s gambling ban.
In September Brazil’s lower house approved sports betting bill PL 3626/2023. The approved bill covers both sports betting and online casinos. The tax rate was set at 18 per cent GGR tax on the net revenue of online betting companies.