Brazil.- 14th December 2023 www.zonadeazar.com In a crucial legislative move, the Federal Senate convened on December 12 to cast their votes on Bill 3,626/2023.
The bill, after extensive deliberation, secured approval with noteworthy modifications that bear substantial implications.
One of the pivotal changes includes the exclusion of betting on virtual events, as stipulated in Amendment No. 139. This decision introduces a distinctive regulatory landscape by shaping the scope of permissible betting activities.
Furthermore, alterations to the base text of the bill have been made in the realm of taxation on Gross Gaming Revenue (GGR). The revised rate now stands at 12%, a notable reduction from the initially proposed 18%. This adjustment is anticipated to have far-reaching consequences on the economic dynamics of the gaming industry.
Another significant amendment pertains to the taxation on winnings. Bettors will now be subject to an annual tax rate of 15%, applicable to amounts surpassing the exemption limit of R$2,112.00. This change aims to strike a balance between fiscal responsibility and the promotion of fair gaming practices.
For a comprehensive understanding of the intricacies surrounding these legislative modifications, the Maia Yoshiyasu Advogados team has diligently compiled detailed information.
To delve into the nuances of these amendments, you can access the complete Maia Yoshiyasu Advogados report in English through the following Link. Stay informed on the latest developments shaping the regulatory landscape of the gaming industry.