The General Coordination of Collection and Credit Rights (Codar), a Federal Revenue agency, linked to Brazil’s Ministry of Economy, has just published Executive Declaratory Act No. in lottery revenues.
The surprise was the inclusion of code 9197, intended for the contribution on lottery revenue from fixed-odds betting, which suggests that the Ministry of Economy is already opening the doors to a soon regulation of sports betting.
The legal document deals with lottery revenue codes and the highlight is the inclusion of fixed-odds betting. In addition to the traditional modalities, the listing also includes code 9141, intended for the contribution on instant lottery revenue, which may also be a signal to the market that changes will also come at Lotex.
ADE Codar nº 1 also reorganizes the contribution codes, with 5862 for the Union's participation in fixed-quota lottery revenue, code 5765, which was already incorporated in a previous act, for the Union's participation in instant lottery revenue exclusive (Lotex).
With the adjusted codes, the body provides conditions for sports betting revenues to be taxed by the Federal Revenue.
Source: GMB
