The text of the MP on sports betting, whose objective is to regulate bookmakers in Brazil, should be sent today, Thursday (6), by the Ministry of Finance to the Ministry of Sport.
The suggestions presented by Minister Ana Moser would have already been included in the proposal. It is expected that, next week, the text of the provisional measure will be forwarded to President Luiz Inácio Lula da Silva for evaluation. The most optimistic in Planalto estimate that the MP for betting could be published in April this year.
Initially, the Ministry of Finance expected a collection of around R$ 6 billion per year with the provisional measure. However, Minister Fernando Haddad recently stated that the collection could reach up to R$ 15 billion.
The Minister of Finance is working to have the MP that regulates sports betting approved simultaneously with the text of the new tax rule. This is due to the fact that, in order to implement the proposal that will replace the spending cap, the government will need to increase annual revenue by around R$150 billion, as declared by the minister himself. The regulation of sports betting is one of the sources identified by the government to increase revenue.
Sports betting MP should be ready in April
According to information recently published by the Ministry of Economy, the provisional measure on sports betting may be completed this April. Haddad revealed some important details about the measure.
According to experts, companies will be taxed at a rate of 18% to 20% on the GGR (gross gaming revenue) that remains with operators after deducting the prizes paid to players.
The Ministry of Economy also decided that betting companies must be headquartered in Brazil to continue sponsoring sports teams, championships, leagues and entities. Obtaining operating licenses should cost around R$ 30 million and will be valid for five years.
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