The city of São Paulo sent to the City Council the bill that reduces the ISS (Tax on Services of Any Nature) to 2% for businesses that provide entertainment activities, also including bookmakers.
Bill 613/2022 aims to reduce the ISS for lottery, bingo, sports betting, gaming and fantasy games activities. “São Paulo takes the lead because it understands the benefits of the activity and is certain that it has all the conditions to receive companies in this rapidly growing sector”, declared the Secretary of Finance, Guilherme Bueno de Camargo.
Camargo also stated that São Paulo is seen as an option to receive companies in the segment due to its infrastructure. “We have the largest airports in the country, with direct flights to the main cities in the world, an advanced telecommunications network with 5G already working and fiber optic cabling in much of the territory”, he added.
The São Paulo sports betting market was represented at one of the main fairs of the gaming industry in Miami. The Secretary of Finance recently participated in the SBC Summit Latinoamérica. “We are very confident that São Paulo is the right place for these companies to set up shop,” he said.
“In addition, São Paulo has a highly specialized and available workforce. I pointed out that each year we create 33,000 new vacancies in higher education courses in the area of technology. I showed that São Paulo has all the conditions to receive global companies”, added Guilherme Bueno de Camargo.
Secretary believes that project that stimulates sports betting sector will be approved in November
For the secretary of the São Paulo City Hall, the approval of the proposal in the Chamber should take place later this month. “Brazil is losing out with the absence of regulation. We could already be raising important resources.”
“And not only the cities, but also the federal government, which will receive a significant portion of the values that circulate through this industry. So, it is important to regulate this growing activity, especially because we are failing to raise important resources for the public administration”, he concluded.