Tag Archives: Sao Paulo

Lula challenged to include ‘betting exemptions’ in new tax plan

Brazil’s IBGR lambasts Lula administration’s betting tax ‘burden’

The subject of tax exemptions on gambling prizes/winnings will be debated once more by the government of Brazil. This follows the PT government’s backing of Provisional Measure (PM) 1,206/2024, which seeks to revise the monthly income tax exemptions for public wages up to BRL 2,824 (€530). The PM is reported to be favored by President Luiz Inácio Lula da Silva, …

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Brazil faces stand-off on betting income rights 

SBC News Brazil faces stand-off on betting income rights 

Addressing London’s LIDE ‘Brazil Business Leaders’ Conference on 21 April, Senate President Rodrigo Pacheco underscored the fiscal importance of implementing a federal sports betting regime.  The legalisation of sports betting was branded as a key component of President Lula da Silva’s ‘revenue strategy’, which aims to raise “potentially over RL100 bn ($18 bn) in 2023”. Pacheco revealed that the Senate …

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Lula & Haddad eye 15% GGR tax on Brazil sports betting regime

SBC News Lula & Haddad eye 15% GGR tax on Brazil sports betting regime

A draft proposal co-signed by Brazil President Lula da Silva and Finance Minister Fernando Haddad has recommended that  a 15% gross gaming revenue (GGR) tax be applied to sports betting activities.  News of the proposal submitted to the Attorney General’s National Treasury Office (PGFN) was reported during the Easter break by Brazilian business news source Poder360. As reported, Lula and …

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CBF seeks 4% betting fee for Brazilian football rights

Brazil

CBF, the Football Confederation of Brazil, has demanded that the government guarantee a larger % share of revenues generated from a federally sanctioned sports betting regime.  The CBF has issued its formal proposal that a ‘betting regime guarantee 4% share of gross revenues to be distributed across its football leagues’. As such, the governing body of pro-football in Brazil seeks …

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Brazil consumer affairs agency orders sports & media to clarify bookmaker deals

SBC News Brazil consumer affairs agency orders sports & media to clarify bookmaker deals

Brazil’s Ministry of Justice is to launch an investigation into the commercial partnerships of sports clubs and media owners struck with online sportsbook operators.  The investigation is due to concerns by SENACON – the National Consumer Secretariat – that such arrangements were agreed upon without Brazil having finalised the laws and standards that will be applied to its pending federal …

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Government of Brazil seeks guarantees that gambling operators will pay all domestic tax charges 

SBC News Government of Brazil seeks guarantees that gambling operators will pay all domestic tax charges 

As Brazil proceeds to develop its gambling and sports betting regimes, the federal government is reported to seek assurances that foreign businesses will be liable to pay all domestic taxes.  Local media reports that the federal government has thrown its weight behind a measure that would force foreign companies to establish a domiciled office in the country to guarantee a …

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Brazil reforms working group to implement gambling laws against a tight timetable 

SBC News Brazil reforms working group to implement gambling laws against a tight timetable 

Brazil’s Chamber of Deputies has reinstated a ‘working group’ to ensure that a new regulatory regime is approved to adopt and regulate new gambling laws.   Brasil Socialist Party deputy member Felipe Carrera will lead the working group, reporting developments to Senate President Rodrigo Pacheco. The group is reported to have reinitiated meetings this week to ‘untangle the path’ for Brazil’s …

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Chamber of Deputies begins key debate on Brazil’s federal future for gambling

SBC News Chamber of Deputies begins key debate on Brazil's federal future for gambling

According to plans submitted by Arthur Lira Brazil’s President of the Chamber of Deputies–  Bill-442/92  that seeks to implement a federal framework to Brazil’s fragmented gambling laws has been included in this week’s agenda and will be debated today.  Though the legislative text is fourth on the list, gambling reformists are positive of progress. Felipe Carreras, the Deputy who drafted …

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Brazil to issue initial plans on Caixa Loterias sale

SBC News Brazil to issue initial plans on Caixa Loterias sale

Brazil’s federal bank Caixa Economica Federal (Caixa) is expected to disclose its initial plans to privatise ‘non-core’ business subsidiaries this week, as part of the government’s efforts to restructure the financial institution. This story featured in today’s SBC News 90. To view the latest round-up, watch today’s edition here ‘Caixa Seguradora’, the federal bank’s insurance unit, is reported to be first in-line …

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Caesars eyes Brazilian market as resort proposal is introduced

SBC News Caesars eyes Brazilian market as resort proposal is introduced

Three representatives from Caesars met with Brazilian officials to present an investment project they claimed could benefit the country financially. Such a deal would be relying on the Brazilian gaming market becoming legalised on a wider scale, with Caesars’ Brazilian representative Andre Feldman insisting  “there must be legislation across the market with joint support of the entire industry, for it …

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