A statement issued by the Secretariat for Economic Reforms of the Ministry of Finance revealed new estimates related to the taxation of sports betting.
As reported in the column by journalist Guilherme Amado, from Metrópoles, the report indicates that the federal government expects to raise around R$ 1.7 billion by the year 2024 through the taxation of sports betting.
This projection takes into account the effectiveness of the legislation as of January of next year. According to the article, the Treasury Department does not anticipate any revenue for the year 2023.
It is estimated that revenues from the taxation of betting will reach the amount of BRL 1.15 billion in 2025, BRL 1.21 billion in 2026 and BRL 1.28 billion in 2027.
Read the full news on sports betting taxation
A document produced by the Secretariat for Economic Reforms of the Ministry of Finance estimated that the approval of the Provisional Measure (MP) on sports betting will result in R$ 1.7 billion in revenue for the federal government in 2024.
The calculation considers that the taxation of bets will already be in effect in January of next year.
The Treasury does not foresee collection for 2023. According to the document, obtained through the Access to Information Law, government revenue from betting will be R$ 1.15 billion in 2025, R$ 1.21 billion in 2026, and BRL 1.28 billion in 2027.
The projections were made on June 29 to respond to a question from the Federal Revenue about the expected collection for the last quarter of this year, when the PM for Betting should come into force.
The calculations diverge from the initial assessment of the Minister of Finance, Fernando Haddad.
In April, Haddad declared that the collection with the MP das Apostas would be between BRL 12 billion and BRL 15 billion a year.
On July 20, Haddad admitted that the collection would revolve around BRL 2 billion a year and would be “far below what was imagined”.
Haddad said, however, that the calculation had been made by the Federal Revenue Service and that it was “much lower than the estimate of the sector itself and [than] the preliminary projections of the Secretariat for Reforms”.
In the document, the Secretariat for Economic Reforms said that the forecast of operating the regulated market in the last quarter of this year was hampered by the slowness of the federal government to finalize the document.
The Secretariat stated to the Federal Revenue Service that it expected the publication of the PM in May. The provisional measure was only sent to Congress on July 25th.
Congress has four months to approve the proposal, but the mixed commission to analyze the text has not yet been formed. Not even the rapporteur for the provisional measure was appointed, one month after the publication of the PM.
The mayor, Arthur Lira, has always made it clear that he would like to deal with the matter through a bill.
