BRASILIA : Brazil's Finance Ministry is expected to levy a 15 per cent tax on the revenue of sports betting companies, in addition to requiring a fee of 30 million reais ($5.93 million) to operate in the country, two sources with knowledge of the matter told Reuters on Thursday.The rules will be enforced
BRASILIA : Brazil's Finance Ministry is expected to levy a 15 per cent tax on the revenue of sports betting companies, in addition to requiring a fee of 30 million reais to operate in the country, two sources with knowledge of the matter told Reuters on Thursday.
The plan's details were first reported by local news website Poder360 and confirmed by Reuters, which had previously reported the government's intention to require betting firms to be based in the country. One of the people responsible for drafting the rules said that the 15 per cent tax will be levied on the gross gaming revenue, the revenue obtained from all bets made, minus the prizes paid to players.
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