The federal government is currently considering imposing a retroactive tax on online gambling companies. The issue is being addressed by a working group that includes the Federal Revenue (RF) and the Secretary of Prizes and Bets (SPA) from the Ministry of Finance. According to information from news outlet Metrópoles, the projected revenue from the initiative stands at around R$ 12.6 billion.
Funds generated by the new measure may not be deposited into public coffers all at once, as discussions are underway to potentially allow for payments made by instalments. Consequently, around 135 betting companies would be obligated to make retroactive payments.
In response to inquiries, the Ministry of Finance confirmed to Metroples that the measure is under analysis.
The Federal Revenue’s Annual Inspection Report, published with the planning for 2025, lists measures related to fixed-odds betting as “structural.” The document aims to “evaluate measures to ensure sustainable compliance levels in the fixed-odds betting market, considering the differences between agents authorized by regulatory authorities and those operating outside the law.”
Appearing before the Parliamentary Inquiry Commission (CPI) on betting in March of this year, the head of the Federal Revenue, Robinson Barreirinhas, stated that betting companies that operated in Brazil before regulation should pay retroactive taxes. Soraya Thronicke the head of the CPI inquired about the Secretary’s opinion on a possible retroactive tax on betting due to activities prior to regulation between 2018 and 2023. While Barreirinhas agreed with retroactive taxation he admitted that there may be “operational difficulties.”
“If there was a material presence here in Brazil and there were profits, they must pay Income Tax; if there was revenue, they must pay (federal tax) PIS-Cofins,” he said.
The post Government could impose retroactive tax on operators in Brazil appeared first on G3 Newswire.
The federal government is currently considering imposing a retroactive tax on online gambling companies. The issue is being addressed by a working group that includes the Federal Revenue (RF) and the Secretary of Prizes and Bets (SPA) from the Ministry of Finance. According to information from news outlet Metrópoles, the projected revenue from the initiative…
The post Government could impose retroactive tax on operators in Brazil appeared first on G3 Newswire.