Zona de Azar Brasil – Brazil: CPI Analyzes the Lifting of Banking Secrecy for 71 Authorized Betting Companies
Brazil – March 11, 2025 | www.zonadeazar.com At its first meeting of the year, the Parliamentary Inquiry Commission (CPI) on Bets will decide on the lifting of banking and tax secrecy for almost all virtual betting companies authorized by the federal government. The meeting is scheduled for this Tuesday (11) at 11 a.m.
This involves 97 requests from Senator Marcos Rogério (PL-RO), submitted in early December, which include 71 of the 78 companies currently authorized by the Ministry of Finance. The documents request, among other data, that the Financial Activities Control Council (Coaf) submit financial intelligence reports (RIFs) to the CPI containing “consistent information” on the betting companies, covering the period from January 1, 2020, to December 10, 2024.
Another 11 requests summon as witnesses authorities from the Central Bank and the Federal Police, as well as representatives from betting companies (such as Betano and Bet7k) and payment institutions (such as Pixtopay). The summons makes attendance mandatory.
Testimony
Before the votes, the committee will hear from Robinson Sakiyama Barreirinhas, the Special Secretary of the Federal Revenue Service of Brazil (RFB), who leads the agency responsible for managing federal taxes. This is an invitation for expert collaboration.
According to the request from Senator Izalci Lucas (PL-DF), who authorized the invitation, the betting sector is still awaiting regulations clarifying taxation on winnings and preventing tax evasion (REQ 74/2024).
“The current legislation does not clearly specify how these winnings should be taxed, creating a loophole that allows taxes to be inefficiently collected. The Federal Revenue Service fears that the lack of regulatory clarity could encourage tax evasion and reduce revenue potential,” the document states.
Barreirinhas has already contributed to a similar topic in the CPI on Match-Fixing and Sports Betting, held in September 2024.
CPI on Bets
The commission aims to clarify the impact of digital betting on the financial health of Brazilians and investigate possible illegal activities. Established on November 12, the CPI elected Senator Dr. Hiran (PP-RR) as president and Senator Soraya Thronicke (Podemos-MS) as rapporteur. The committee has a total of 130 days to complete its work, with an expense limit of R$110,000.
The games created by the sector that are pending regulation are known as “fixed-odds betting,” which refers to online sports betting (the so-called “bets”) and online games that resemble casinos (such as Fortune Tiger, popularly known as “Jogo do Tigrinho”). Fixed-odds allow bettors to know in advance how many times their wager will be multiplied if they win.
The outcome of a CPI may include, among other things, proposals for legislative changes and the forwarding of investigations to authorities responsible for criminal accountability.
Agência Senado (Reproduction authorized with citation of Agência Senado). Source: Agência Senado.
Edited by: @_fonta | www.zonadeazar.com