🐒 Brazil🇧🇷: the Tax Authority published detailed guidelines for calculating and paying income tax on winnings from fixed-odds betting and fantasy sports

🐒 Brazil🇧🇷: the Tax Authority published detailed guidelines for calculating and paying income tax on winnings from fixed-odds betting and fantasy sports

To support these processes, the authority now provides citizens with a dedicated digital system. The service is available on the official website.

➡️ The guidelines specify when the tax applies and which documents taxpayers must use to confirm the results of their activities. This includes ComprovaBet, which contains a summary of transactions carried out on betting platforms, and which operators in the sector are required to provide to users.

➡️ The taxable base is calculated as the difference between total winnings received over a year and the total amount spent on bets during the same period. Therefore, only the net positive result is subject to taxation.

➡️ Taxation applies only if annual profit exceeds the tax-free threshold of 28,467.20 reais (5,383 USD). A rate of 15%is applied to the amount above this threshold.

➡️ Payment can be made in installments. In this case, the process is carried out through the e-CAC portal, the digital environment of the Federal Tax Authority. The registration of the debt may take up to 5 business days. The simplified installment system allows the amount to be divided into up to 60 payments, with a minimum of 200 reais per installment.

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