In May, the Ministry of Finance decided to tax online sports
betting companies with 16 per cent on GGR. The taxation
foreseen at the time was 16 per cent, with one per cent for the ministry of sports. But, according to the new MP, the
percentage allocated to the Ministry of sport increased to three per cent, bringing the total to 18 per cent.
sight, meaning that for investors the market might not be as attractive as in previous years. Today, Argentines are enduring one of the highest inflation rates in the world. Prices are rising by as much as eight per cent a month, to the highest level in three decades. Tragically, in this once prosperous nation, around 43 per cent of the population now lives in poverty.
BRAZIL
In May a Parliamentary Commission of Inquiry (CPI) charged with investigating the manipulation of results of football matches was launched in the House of Deputies. Lawmakers have been hearing from players and managers who have been caught up in the “Maximum Penalty” operation, triggered initially by an investigation headed by the Goiás prosecutor’s office.
Te CPI has already heard some P60 WIRE / PULSE / INSIGHT / REPORTS
pretty hair-raising testimony by one player who said that he and his family were threatened as part of the scheme with fears growing that the scandals in the state could be just the tip of the iceberg. Te revelations have made the need for regulation of clear importance.
In addition, after a lot of speculations as to when the government would actually present its provisional measure or whether it will become an urgent bill, the government finally published the MP (provisional measure) that regulates sports betting. Te rules are in force but must be analysed within 120 days by the National Congress or they will lose their validity.
In May, the Ministry of Finance decided to tax online sports betting companies with 16 per cent on GGR. Te taxation foreseen at the time was 16 per cent, with one per cent for the ministry of sports. But,
according to the new MP, the percentage allocated to the Ministry of sport increased to three per cent, bringing the total to 18 per cent.
It will at the discretion of the Ministry of Finance to fix the cost of the licence. Te Executive will also send a bill to congress to deal with the structure and processes for monitoring the sports betting market. Te Ministry of Finance estimates that it should raise about R$2bn in 2024 thanks to the new regulations. Over the coming years, with the fully regulated market and with the growth of the sector, the annual collection could range from R$6bn to R$12bn.
While this all happens as predicted, local state governments are going ahead and moving forward with their own sports betting bills. Indeed, it’s been an extremely busy year in the lottery space overall as state governments
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