😳Brazil🇧🇷: House of Deputies debates bill to increase gambling tax from 12% to 22% of gross gaming revenue (GGR)

😳Brazil🇧🇷: House of Deputies debates bill to increase gambling tax from 12% to 22% of gross gaming revenue (GGR)

The additional 10% would be allocated to environmental protection initiatives, specifically to combat deforestation.

▶️The proposal comes at a time when there is already a provisional measure from the federal government raising the betting tax to 18% of GGR.

▶️The executive president of the Brazilian Institute for Responsible Gaming (IBJR) warned that such a measure could “destroy a market that has only just begun to be regulated and push millions of players into illegal activity.”

▶️Context: since legalization and regulation, issues have already surfaced — today Brazil’s underground market accounts for up to 51% of the gambling industry.

▶️Note: the current 12% tax is actually just a sectoral levy. Including all consumption taxes, the total burden already reaches 28%… not counting selective or corporate income taxes. If this levy rises to 22%, companies would end up paying more than 40% overall.

#news #Brazil #gambling

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