The Senate’s Economic Affairs Committee (CAE) approved the project that provides for the regulation and taxation of sports betting.
Now, the project goes to a vote in the Plenary. The expectation is that it will take place next week, specifically, on Tuesday, the 28th.
According to Federal Government estimates, the bill could generate up to 2 billion reais in revenue next year.
However, the project has undergone changes and will need to return to the Chamber after passing the Senate Plenary.
Tributes in the taxation of sports betting
Rapporteur Angelo Coronel (PSD-BA) reduced the tax charged on the revenue of betting companies to 12%.
However, the text approved by the Chamber stipulated a charge of 18% on revenue.
Furthermore, the project now makes it mandatory for so-called foreign “bets” to have at least 20% of the capital in the hands of a Brazilian company, something that was not included in the Chamber’s project.
According to Coronel, these changes were coordinated with the market and the Ministry of Finance. While the Income Tax charge for bettors was also reduced in the Senate.
The taxation, which will occur for prizes starting at R$2,112, will be 15% on top of the capital gain at the end of the year. Initially, the project provided for a payment of 30% per winning bet.
Regularization of all online gambling
The proposal addresses the right to advertise for bookmakers in stadiums and the press, however, within the rules, according to the Chamber’s text.
Angelo Coronel also made a point of maintaining the regularization of all types of online gambling, such as online casino.
After all, this type of game will also help increase the Union’s revenue.
“The majority of senators saw the need to regularize the games. We are not inventing games. The games already exist, but underground. After this approval, tax will be charged. The Brazilian population wins”, said Coronel.
It is worth noting that the sports betting tax project presents a license to authorize the exploration of the sector in the country, worth R$30 million, valid for five years.
Furthermore, the project’s rapporteur at the CAE agreed with a request from Senator Izalci Lucas (PSDB-DF) for the commercialization of fixed-odd bets by Lottery Licensees, based on grants acquired by Caixa Econômica Federal.
