Zona de Azar Brazil – Brazil: The National Annulled the Vetoes of President Lula

Brazil.- May 13, 2024 www.zonadeazar.com The National Congress of Brazil annulled the vetoes of President Luiz Inácio Lula da Silva regarding the law that regulates sports games in the country. The measure was supported by a wide margin both in the Senate and in the Chamber of Deputies, leaving in effect a Federal Revenue regulation that had caused controversy in the tax sector.

The normative instruction established a tax exemption threshold for bettor prizes, a demand that had been defended by the main associations in the sector. The derogation of vetoes is seen as a victory for the government companies, which will now operate under a more favorable regulation.

The Government Lula has suffered a series of defeats in Congress this week, related to presidential vetoes on several legislative projects.

The legislators have sought to recover part of the funds that the president cut from the federal government, which has generated an environment of tension between the Executive and the Legislative. The defeat in the betting law is just one of the ongoing battles between the Government and the Congress.

The associations that represent the investment sector in Brazil have celebrated the annulment of vetoes, considering it as a step towards a more competitive and fair market.

Han expressed his hope that the Federal Revenue will adapt its regulations to the new law of apuestas, without presidential vetoes, to guarantee a fair and transparent environment for both bettors and companies in the sector.

Edit @_fonta   www.zonadeazar.com