Last Wednesday, the 1st, the Minister of Finance, Fernando haddad, said that the taxation of online sports betting will be the alternative to compensate for the revenue losses with the correction of the Income Tax (IR) table. The justification for the minister's decision would be that most countries tax this practice. Keep reading the article to learn more.
Online sports betting can be taxed
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Online sports betting is a form of gambling in which punters bet money on predicting the outcome of sporting events.
This could include betting on who will win a match, the final result of a game, the final score or the performance of individual players.
The minister did not refer to electronic games, but the press office of the Ministry of Finance clarified to Agência Brasil that Haddad was referring to online sports betting, mainly on football results, also calls from sports betting.
Thus, the measure would not include video games or sports
electronics, called e-sports. According to Minister Haddad, the economic team is still studying the fiscal impact.However, he points out that the gain would be in the order of billions of reais. “Not many [billions], but some,” Haddad said.
“I will regulate. We readjusted the income tax table, and this has a small loss, but it has [a loss]. Let's compensate with taxation on these electronic games that do not pay taxes, but take a fortune from the country”, added the minister in an interview with UOL.
Proposal for correction of income tax
The Ministry of Finance is finalizing the proposal for the correction of the Income Tax table, one of the campaign promises of President Luiz Inácio Lula da Silva (PT).
Lula stated about two weeks ago, in an interview, that the government intends to raise the exemption limit from R$ 1,903.98 to R$ 2,640, the equivalent of two minimum wages, starting in May.
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