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Brazil bettors situation to face 15% tax on winnings.

A new normative ordinance in Brazil has confirmed a 15% tax on player winnings above BRL2,824 (£437.77/€508.05/$547.25). The Special Secretariat of Federal Revenue of the ministry of finance published Normative Ordinance No 2,191 in the Official Diary of the Union on Tuesday. The ordinance outlined the tax framework for betting in Brazil after the Federal

Could Brazil sports making a bet measure fail in Congress?.

The long-path to regulated sports betting has reached a critical point in Brazil with speculation mounting the National Congress will deny the required approval to Lula’s Provisional Measure (PM) within the 120-day deadline. Last week, lawmakers filed 244 amendments to Provisional Measure (PM) No 1,182, the presidential decree which confirms the 2018 Brazil law regulating

IBIA welcomes as most contemporary member.

The International Betting Integrity Association (IBIA) has announced sports betting brand as its latest member. Match Time Solutions-owned online operator is focused on the Brazil market. joins almost 50 companies and more than sports betting brands within the IBIA network of members. “We are honoured to work with IBIA and to be

Brazil getting ready to sports making a bet law.

Brazil’s government has launched the Provisional Measure for sports betting, in a move that marks the end of a 20-year wait period for the country. The Provisional Measure (PM) was adopted by Brazil’s president, Luiz Inácio Lula da Silva, and signed by the Ministries of Finance, Planning, Management, Health, Tourism and Sports. Once signed by

Concerns raised over Brazilian sportsbook tax rate.

There have been a number of concerns regarding the proposed 15% tax rate on gross gambling revenue in Brazil, with one high profile stakeholder arguing the true rate could be 26.25% after additional contributions. On 12 April, Brazil’s Ministry of Finance held a public audience in Brasilia announcing that that it would be imposing a

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