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LULA strikes the gavel and confirms the creation of a new tax in Brazil

LULA strikes the gavel and confirms the creation of a new tax in Brazil

The provisional measure (MP) text that Creates One Taxes on sports betting companies in Brazil ready. According to information gathered behind the scenes by the Brazilian station CNN, the document must first be sent to the Ministry of Sports, where it will be analyzed by Minister Anna Moser.

However, according to this behind-the-scenes information, sending the deputy to the Ministry of Sports is just a formality. After all, the current document already includes the changes proposed by Ana Moser. At the current rate, the idea is for the document to reach President Lula (PT) next week.

The pace of document progress was quickened, according to the evaluation of the members of Planalto Palace. The most optimistic members of the federal government believe that the measure will be published by President Lula later in April. Thus, the taxes will begin to take effect in a few more weeks.

Unlike a bill, the MP has the force of law once it is signed by the President of the Republic. In this way, when Lula signs the action, sports betting companies may start charging for Federal government.

Initially, the Minister of Finance, Fernando Haddad (PT) indicated that the release of taxes imposed on sports betting companies could bring profits to the government about R$ 8 billion. However, after a second analysis, the minister indicates that the collection could exceed R$15 billion.

betting companies

In Brazil, sports betting companies have been allowed to operate since 2018. At that time, it was decided that the government would put in place regulations so that these companies would have to comply with general operating rules.

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However, the fact is that the government has not established a regulation to regulate the activity, and the companies continue to operate normally in the country. Members of the current executive branch have met with parliamentarians in recent weeks to discuss creating regulations on the matter.

In any case, there is still no date for this process in the National Congress. The natural tendency is for corporations to be taxed before the regulation of the system is approved.

The clubs are complaining

Last April 4th, the major football clubs of Sao Paulo and Rio de Janeiro issued a joint memorandum criticizing the federal government on the matter.

Hit the hammer, it’s the beginning of a new tax in Brazil. Photo: Mauro Pimentel/AFP

“It is essential that football clubs participate directly in legislative discussions involving the regulation of the activity of electronic betting companies, allowing them to position themselves in a clear and public manner about what they understand to be fair and correct in relation to the said regulation, since no one is authorized to represent them in this debate.” .

The following clubs signed the memorandum:

  • Sao Paulo;
  • Palm trees;
  • saints.
  • Corinthians.
  • Botafogo.
  • Fluminense.
  • Flamingo.
  • Vasco da Gama.

It should be noted that 39 of the 40 teams in the A and B series of national football are sponsored, or at least have some kind of partnership with a bookmaker. See the amounts deposited:

  • PixBet – R$ 96 million;
  • Lucky Sport – R$ 60.3 million;
  • EstrelaBet – R$ 36 million;
  • BetFair – R$ 33 million;
  • PariMatch – R$27.5 million.
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