Sports betting seems to start awakening in Brazil, by Eduardo Morales Hermo
2 minutos de lectura
(Brazil).- It is the sports betting segment which has been finally approached based in the December 2018 approved Decree. The recent publication of the Provisional Measure No. 1.182 establishes certain rules to develop the regulation of the sports betting activity which has still to pass a few hurdles before is ready for implementation. Read Eduardo Morales Hermo analysis on the matter.
CHAPTER II
The Taxation Burden and more - Preliminary Measures Draft
To start with the more painful part of the draft of the regulation, one can’t just hold to the highlight of the 18% taxation on gross gaming revenue (which for starts shall be on net gaming revenue), but this is misleading to say the least, because of adding the side taxes which are applicable, the final taxation burden rises to 30,85% - not exactly in the referred GGR but overall tax that the operator will have to pay for their operation in Brasil
It is the sports betting segment which has been finally approached based in the December 2018 approved Decree.
The recent publication of the Provisional Measure No. 1.182 establishes certain rules to develop the regulation o the sports betting activity which has still to pass a few hurdles before is ready for implementation.
In principle, this so-called Provisional Measures document must pass the review by the National Congress of Brazil, equivalent to the legislative lower chamber, for what the PM will have the 120 days required period, and that might lead to some amendments of the published draft.
"LAST MINUTE INSIGHT !!!!!"
The last-minute insight on the process is that the Lower Chamber intends to let provisional measure expire or lapse and include all modes of gambling in one bill.
The Lower Chamber plans to let the provisional measure (PM) on sports betting published by the Lula government to lapse, and concentrate all the regulations of the whole gambling sector in one bill that the Executive will still send, incorporating into the text, rules for both retail and digital versions of bingos, casinos, jogo do bicho and other forms of online gaming and betting.
This means probably more delay in the implementation of any regulation for gambling in Brazil, certainly does not seem that anything will be live until sometime 2024. So things are developing as usual in Brasil, you never know what does not come next, much less what ever can come.
Read the full report here:
Categoría:Analysis
Tags: Sin tags
País: Brazil
Región: South America
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