Brazil’s government has launched a provisional measure for sports betting, in a move that marks the end of a 20-year wait period for the country.
The provisional measure (PM) was adopted by Brazil’s president, Luiz Inácio Lula da Silva and signed by the ministries of finance, planning, management, health, tourism and sports.
Once signed by President Lula, the PM will be published by Brazil’s government and will be enacted for an initial maximum period of 60 days, before it can be extended for another 60 days.
What are the measures?
A 16% tax on gross gaming revenue (GGR) will be payable by licensed operators. Percentages of this will be distributed to public health initiatives and anti-match-fixing initiatives.
In total, 2.5% will be given to the National Fund for Public Security. Elsewhere, 1.6% will go to sports clubs and 10% to social security. The ministry of sports will receive 1% and education initiatives 0.8%.
Players will be subject to 30% income tax on winnings, which wi..