The Speaker of the Chamber of Deputies, Hugo Motta has defended the removal of the proposed tax on betting deposits. Speaking to local press he said that it was an “aberration” to think that the creation of the Cide-Bets tax would have resulted in a collection of R$ 30 billion for public coffers.
The tax was intended to increase resources for public security, but was ultimately removed from the anti-gang bill during voting in the Chamber.
“Saying that R$ 30 billion will be collected from this Cide-Bets tax is not true. It’s not a disagreement, it’s an aberration. Because there’s a perception that, if this tax were to come into effect, it would perhaps be 10%, 15% of R$ 30 billion. Maybe all the betting sites in Brazil would make R$ 30 billion. How do you collect R$ 30 billion from this tax?” Motta said in an interview with Metrópoles
Last week the Chamber of Deputies completed voting on the anti-faction bill, which increases penalties for participation in organized crime or militias and provides for asset seizure of the person under investigation in certain cases.
The bill’s rapporteur, Guilherme Derrite, defended the provisions proposed by the senators, including the creation of a 15% Contribution for Intervention in the Economic Domain (CIDE) tax on bettor deposits to fund the fight against organized crime.
However, a Progressive Party (PP) amendment removed this new tax from the text, and it will be addressed in a separate project.
The PP amendment also dropped provisions to regularize tax debts owed by online gambling companies in the past five years through self-declaration to the Brazilian Federal Revenue Service, as well as additional oversight measures by the financial sector.
The plenary largely endorsed the version drafted by the Chamber last year and rejected most of the Senate’s changes. The bill will now be sent to the president for signature.
The anti-faction bill was put forward after a massive police raid aimed at organized crime in Rio de Janeiro. One hundred and twenty one people, among them four police officers, were killed in the raid.
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The Speaker of the Chamber of Deputies, Hugo Motta has defended the removal of the proposed tax on betting deposits. Speaking to local press he said that it was an “aberration” to think that the creation of the Cide-Bets tax would have resulted in a collection of R$ 30 billion for public coffers. The tax…
The post Speaker of the Chamber of Deputies defends removal of gambling tax in Brazil’s anti-faction bill appeared first on G3 Newswire.