The Minister of Economy, Fernando Haddad, declared that the Federal Revenue expects to obtain tax revenue of R$ 12 billion to R$ 15 billion from the taxation of online gambling sites. According to him, since online betting is a reality in the virtual world, it is fair that the Federal Revenue tax them.
In addition, the minister pointed out that there are companies that operate in online commerce and, illegally, simulate person-to-person remittances to avoid paying taxes. He pointed out that these companies will be taxed from now on. Haddad also informed that Brazilian and foreign companies that are facing unfair competition from one or two major world players have asked the Federal Revenue Service for measures.
According to Haddad, the aforementioned measures aim to increase revenue by an amount that could reach R$ 150 billion, with the objective of achieving the targets established in the proposed fiscal framework.
He also stated that his team is working with the prospect of approval of the tax reform by Congress by October of this year. If there is a need to correct distortions in the future, the minister’s portfolio will evaluate the measures to be taken.
“It is more important for you to show the direction you are pursuing than for you to do everything now and disturb something in the economy”, commented the minister.
Other statements by Haddad on the taxation of betting sites
In a recent interview with UOL Haddad stated that the absence of taxation of sports betting sites constitutes an “illegality” that causes the evasion of foreign exchange in the country. He pointed out that Brazil should adopt a system similar to that of other countries and apply taxation on this sector.
“Internet gambling is taxed worldwide. It cannot be different here. There is an absurd evasion of foreign exchange in the country. A lot of money comes out. You have no control because it’s not a physical casino, it’s a virtual casino. It is the taxation of virtual casinos, which exist and need to be regulated”, said the minister.
