Zona de Azar Brasil – Brazil Tax Reform: Bets, Turf Betting, and Fantasy Sports

Brazil – December 19, 2024 www.zonadeazar.com For example, taxation on the revenue of lottery modalities — including fixed-odds bets, turf betting, and fantasy sports — will allow deductions to calculate net revenue. In this case, payouts and mandatory allocations to public entities or funds, as well as other beneficiaries, will be deducted from the gross revenue.

Bettors subject to the regular regime will not be able to claim credits, and lottery operators must provide tax authorities with information on the location where the bet was placed, the amounts wagered, and the prizes paid. If the bet was made online, the bettor must be identified.

Bets placed with foreign lottery operators follow the same rules. Deductions will be stipulated through a reduction factor defined by regulation. Additionally, the bet will be subject to Import Tax (II), and the bettor may be considered jointly liable for paying the contributions.
Source: Agência Senado

Editor: @_fonta
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