The Secretary of the National Treasury, Rogério Ceron, and the President of the Chamber of Deputies, Hugo Motta (Republicanos-PB), signaled this Thursday (29) that the taxation of bets and the review of tax benefits are among the main alternatives under discussion to compensate for a possible revocation of the decree that increased the IOF (Tax on Financial Operations).
National Treasury’s position on betting taxation
In a statement to journalists, Ceron stated that taxing bets “could be a way to help” partially offset losses with the IOF. However, the secretary warned that more in-depth assessments are still needed.
“It may not solve the problem, but it may help to some extent. We will have to discuss whether it makes sense or not, to what extent and how much it can compensate. “, he declared when commenting on the public accounts data for April.
In addition, the secretary also mentioned the possibility of additional charges on cryptocurrency transactions. In this context, he cited a statement by Itaú’s chief economist, Mário Mesquita: “The ideal would be to have no IOF, but it doesn’t seem to make sense to leave this segment exempt given that it will tax the others.”
Congressional Alternatives
In turn, Hugo Motta, after a meeting with party leaders, reinforced that “the fiscal situation is making the country ungovernable”. Given this scenario, the Speaker of the Chamber of Deputies pointed out paths similar to those mentioned by Ceron. Among the proposals under analysis, the following stand out:
- Review of tax expenditures: “Perhaps the time has come to face the problem of tax benefits”, said Motta, who promised to evaluate the creation of a working group to prepare proposals in this regard.
- Taxation of online betting platforms: a measure already defended by both government members and the financial market as a way of replenishing revenue.
- Review of public revenue earmarking: part of a broader agenda of structural measures.
Deadline and fiscal impasse
Meanwhile, the Ministry of Treasury has 10 days to present fiscal measures to the National Congress. In this regard, Ceron emphasized that “today there is no materialized alternative that allows any type of change”. Furthermore, he stressed that “sources of resources are essential”.
It is worth noting that the government expected to raise R$20.5 billion with the increase in IOF in 2025. However, this amount has already been reduced to R$19.1 billion after a partial reduction in the measure that eliminated the tax on investments of national funds abroad.
Institutional dialogue
Regarding the negotiation process, Motta highlighted the Legislature’s commitment to building joint solutions: “Both I and the [Senate] President Davi [Alcolumbre] could have put the PDL on the agenda yesterday, and it would certainly have been approved here and in the Senate. But we didn’t do that, because we want to build the solution with the government.”
Later, the Speaker of the House also reacted to the possibility of the issue being taken to court if the decree is revoked, stating that this “worsens the atmosphere here in the House”.
On the other hand, Ceron praised those who are presenting proposals: “Those who are putting themselves in the debate to contribute are very commendable. Everyone understands that there is a need. And there are people who are putting themselves in the debate and building.”
Finally, the economic team is working on alternatives only for 2026, thus maintaining the need to collect IOF for 2025.
ANJL contests betting proposal
The National Association of Games and Lotteries (ANJL) expressed concern and classified the suggestions as measures without economic basis.
According to ANJL, the regulated sector already has a significant tax burden. Companies pay 12% of Gross Gaming Revenue in addition to traditional taxes.
The association highlighted that operators pay a concession fee of R$30 million. Adding up all taxes, the total burden reaches approximately 42%.
