SPORTS BETTING
Brazil – Sports betting tax rate put forward by Brazil’s Ministry of Finance
By James - 10 April 2023
The government of President Luiz Inácio Lula da Silva has put forward in a draft sent to the PGFN (Attorney General of the National Treasury), the tax rate for online sportsbetting. According to Brazilian news portal Poder360 Brazil’s Finance Ministry is expected to levy a 15 per cent GGR tax on sports betting companies. License fees will stand at R$30m. The tax rate was confirmed from independent sources from Reuters.
According to Poder360 the Ministry of Finance has already finished the initial text and sent the draft to the PGFN, which will analyse the constitutionality of the measure.
The next stage of the process will be for the ministry to get feedback from stakeholders and other ministries. According Poder360 top football clubs based in Rio de Janeiro and São Paulo, will be heard on this month as well as members of The CBF (Brazilian Football Confederation).
In an interview with GloboNews Minister of Finance Fernando Haddad said that the government expects to raise up to between R$12,000m ($2,365m) and R$15,000m ($2,957m) per year from online sports betting.
Haddad said that that the government was now in the process of finalizing the texts that will make up the Provisional Measure (MP) along with other documents that will guide sports betting regulation in Brazil. Haddad added said that government forecasted revenue had increased significantly from previous estimates.
