With the maintenance of the fiscal target defined for 2024, which foresees zero fiscal deficit, the Federal Government and the Ministry of Finance included the regulation of sports betting among the priorities for the end of this year.
The government is focused on articulating the approval of this and other proposals in the National Congress, aiming to increase revenue collection.
When forwarding the Budget Guidelines Bill (LDO) to Congress, the government suggested the goal of zero deficit, that is, controlling expenses at the same level as revenue.
Part of the Federal Government, however, supported a change in the objective, allowing the government to record a deficit of 0.50% or 0.25%.
However, the vision of the Ministry of Finance prevailed. Therefore, the goal was not changed.
Among the government’s measures to increase revenue in 2023 are:
- ICMS subsidy;
- Tax reform;
- Regulation of sports betting;
- Interest on equity (JCP).
Sports betting regulation project
The bill (PL) that provides for the regulation of sports betting establishes rules for the operation of betting houses.
According to the Senate’s official website, the rapporteur, Senator Angelo Coronel (PSD-BA), projects that, if approved, the proposal could generate R$10 billion in revenue per year for the federal government.
Furthermore, the proposal defines that companies will be taxed 12% on everything they collect from bets made by players.
While bettors must pay a 15% fee on prizes.
According to the PL, bettors will pay the fee only once a year, in Personal Income Tax, and only if the prize fund exceeds R$ 2,112.00 (Income Tax exemption range).
The sports betting regulation project has already been approved by the Chamber of Deputies. Subsequently, it was processed in parallel in the Senate’s Sports and Economic Affairs (CAE) committees.
The vote in the Plenary should have taken place last Wednesday, 6th, but was postponed.
Is expected is for it to be discussed by the President of the House, Rodrigo Pacheco, next Tuesday, the 12th.