The Federal Government is finalizing the text of the Provisional Measure that regulates fixed odds Sports Betting in Brazil.
As already published by the iGaming Brazil portal, earlier today, the proposal for a Provisional Measure (PM), sent to the ministries that co-authored the measure – Planning, Management, Health, Tourism and Sports – will guarantee more confidence and security to gamblers, thanks to transparency of rules and supervision.
According to what was released today by the media, the Government will regulate sports betting in Brazil with 16% on the GGR and 30% of IR on prizes and that interested companies must pay 16% on the GGR. The gambler, in turn, must pay 30% Income Tax on the amount received, respecting the exemption of R$ 2,112.00.
On this extremely important subject, which says that now the bookmakers will have a smaller portion of profit on the amount bet, causing controversy and heated discussions, and the new text of the MP that should be approved in the next few days, the iGaming Brasil portal sought sports betting law specialist and partner at Hendrich Advogados, Witoldo Hendrich Jr. in exclusive testimony.
Check the opinion of Witoldo Hendrich Jr. in full
