Brazil sports betting tax rate set at 12% as attempt to remove igaming fails; Senate vote this week

Brazil sports betting tax rate set at 12% as attempt to remove igaming fails; Senate vote this week

Article brief provided by iGaming Business
  • Marese O'Hagan, iGaming Business
November 26, 2023 8:18 PM
  • Marese O'Hagan, iGaming Business

A reduced 12% tax rate for Brazil sports betting was confirmed after the country’s Economic Affairs Commission (CAE) approved Bill 3,626/23 [Wednesday] while an attempt to remove igaming from the legislation was rebuffed.

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The approval of the bill text by the CAE greenlights the bill to go to the Senate plenary. The Senate plenary vote will take place on 28 November, during which sports betting – alongside igaming – could be given the all-clear in Brazil.

If the Senate alters the bill text, it will go back to the Chamber of Deputies for review. The lower chamber approved Bill 3,626/2023 in September.

However it faced opposition from senators including Eduardo Girão and Carlos Portinho.