The CEO of the Brazilian Institute of Responsible Gaming Andre Gelfi has blasted the Lula Administration for imposing one of the “highest tax burdens in the world” on sports betting operators after the President finally signed off on the provisional measure to introduce regulation.
Gelfi noted that the 18% tax rate on GGR is 260% higher than the current taxation laws, making Brazil one of the most heavily taxed jurisdictions in the world.
The CEO said: “This burden concerns companies in the segment and should be viewed with skepticism by Brazilian society, as the entire economic chain derived from this sports betting sector must be impacted.
