The lower house of the Brazilian legislature reportedly approved proposed legislation earlier this week that would establish a tax regime for the giant nation’s coming land-based and online sportsbetting sector by instituting a duty on gross gaming revenues.
According to a report from SBC News, the measure sanctioned by the 513-seat Chamber of Deputies would also alter the way these envisioned taxes are allocated to specific public institutions such as the police, gaming regulators and educational programs. As such and the source detailed that the legislation, which is now on its way for a vote before the 81-member Federal Senate, calls for 0.82% of proceeds to go to schools with another 2.55% being earmarked for the National Public Security Force.
Particular provision:
The proposition is the brainchild of Congressman Moses Rodrigues and he reportedly proclaimed that his measure would moreover see 1.63% of any tax revenues generated by sportsbetting go to aid ‘Brazilian sports entities’ that have granted operators the right to utilize ‘their names, brands, emblems, anthems, symbols and more’ for the purposes of ‘promoting and executing fixed-odd bets’. A member of the Brazilian Democratic Movement political party, the 42-year-old legislator from the northern state of Ceara purportedly pronounced that the envisioned legislation is to involve a further 95% of this yield being placed in an account ‘to cover the costs and expenses of the state entity that will be set up to control the gaming and betting sector.’
Specific submissions:
The heavily-populated jurisdiction of Rio De Janeiro reportedly last month began the process of bringing new gambling products to the portfolio of its state lottery and is currently considering expressions of interest from operators who would be placed in charge of handling any newly-introduced verticals. This course has purportedly been designed to attract companies holding an established track record of developing and rolling out land-based and online sportsbetting and lottery games.
Sportsbetting pioneers:
Rio De Janeiro and the large neighboring state of Minas Gerais are reportedly among the first in Brazil to have begun contemplating the expansion of their licensed gambling markets via the legalization of sportsbetting. In the former jurisdiction, this process was initiated by a request from State Deputy Alexandre Knoploch to allow the state’s lottery to offer a range of sportsbetting entertainment.
Reportedly read a statement from Rodrigues…
“The goal is to improve sportsbetting legislation by changing the tax base to gross gaming revenues. The tax collected from physical and virtual sportsbetting operations will subsequently be used to pay bonuses and redirect money to social security, health and education.”
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