In an interview with Rádio CBN on Friday (5), the Minister of Finance, Fernando Haddad, informed that the text of the PM for sports betting is being reviewed by the Civil House and undergoing final adjustments. According to the minister, the work should be concluded by the return of president Luiz Inácio Lula da Silva from his trip to England.
The president traveled to London to attend the coronation ceremony of King Charles III, which took place at Westminster Abbey around 10 am this Saturday (6). On Friday (5), Lula met with the British Prime Minister, Rishi Sunak.
“He is already in the Civil House. I believe that when the president returns, it should already be adjusted”, said Haddad.
With the regulation of sports betting, the government plans to impose taxes on companies in the sector, in order to help offset the fiscal impact arising from the increase in the Income Tax (IR) exemption range, which was announced by President Lula last Sunday. (30). As of now, the limit for exemption from IR has risen from R$1,903.98 to R$2,640.
“These portals are not even in Brazil and are surfing the internet without reporting to the Brazilian authorities,” said the minister to CBN.
According to Minister Haddad, the regulation proposed by Brazil for sports betting follows the best market regulation practices, which are already applied in regulated markets around the world.
“We are adopting practices that are consensus in developed countries,” he said.
According to information gathered by Máquina do Esporte, the text of the PM for sports betting would have already been analyzed by the Special Secretariat for Legal Affairs (SAJ), a body of the Civil House responsible for providing legal advice to the Presidency of the Republic. Currently, the material would be at the Ministry of Finance undergoing a final adjustment to come into effect in the coming months.
