Zona de Azar Brazil – Brazil: Gaming Associates Europe Authorized to Certify Bets in Brazil

Brazil.- May 15, 2024 www.zonadeazar.com The Ministry of Finance granted authorization to Gaming Associates Europe this Monday (13) to operate as a certifying entity for betting systems in Brazil.

The authorization, valid for three years, imposes strict standards of legal qualification, tax and labor regularity on the company. This measure highlights the need to preserve its integrity and technical qualifications.

This decision represents an advance in the regulation of the online gaming sector in Brazil. Thus, enabling the entry of new companies and the expansion of the offer of products and services for bettors.

Gaming Associates Europe’s responsibilities as a certifying body

Gaming Associates Europe’s responsibilities as a certifying entity include the evaluation and certification of equipment, software, tools and devices. The list also includes the verification of betting systems and the certification of live and virtual gaming studios.

The information is contained in an ordinance published in the Official Gazette of the Union (DOU). Furthermore, the authorization comes after the approval in Congress and the presidential sanction, at the end of last year, of the law that regulates sports betting in the country.

Regulation process for the online betting sector

However, the online betting regulation process continues in the National Congress. Last Thursday (9), parliamentarians decided to return the Income Tax (IR) exemption for bettors who win up to R$2,259 in monthly prizes.

The presidential veto ensured the collection of tax for anyone who pocketed any amount in online betting houses.

The veto had been recommended by the Ministry of Finance. In the justification sent to Congress, the government stated that maintaining this section would violate “tax equality”.

With the veto, bettors would be taxed at a rate of 15%, regardless of the amount of the prizes.

However, parliamentarians understood that it was interesting to exempt Brazilian gamblers who obtain lower values – and who fall into the first income tax exemption bracket; that is, they receive up to R$2,259.

Edit @_fonta   www.zonadeazar.com