There are several topics to be discussed and voted on in the coming days and the Brazilian Senate prepares to make a concentrated effort to meet high demand by the end of the year. In addition to at least three Proposed Amendments to the Constitution, the House must deliberate on the incidence of income tax for investments made in funds abroad, changes in the registration of pesticides and Bill 3626/2023.
The project regulates sports betting and was approved at the beginning of the month by the Sports Commission and, this week, by the Economic Affairs Commission. In addition to approval by the CAE, the Bill approved the urgent request to be discussed and voted on in the Plenary. So far, five amendments and two requests have been presented.
The voting agenda in the Plenary is still being prepared, although in a first draft it will be included in the meeting on next Tuesday (28). However, it is possible that there will be a joint meeting of the Chamber and Senate on the same day, which could make it impossible to vote on matters in the Senate.
Another concern regarding a possible delay in the vote is the COP, the Climate Change Conference, which takes place from the 30th, in Dubai, in the United Arab Emirates, where several senators will attend, who are expected to travel next Tuesday (28), or the following day.
When reading the CAE report, Senator Angelo Coronel (PSD-BA), said that "in order for the sports betting market to function properly, it needs to be regulated." According to the senator, the project precisely fills this gap in Brazilian legislation and puts the country at the forefront of regulating this new economic activity.
In addition to taxing betting applications, the text provides mechanisms to inhibit the manipulation of results and establishes rules for advertising these games, among other measures. Estimates from government members published in the press indicate a potential for revenue of between R$700 million (US$ 143m) and R$2 billion (US$ 407m) next year.
Senator Randolfe Rodrigues (Rede-AP), government leader in the National Congress, defended the point of view that the estimated future revenues, if the projects are approved, are part of the government's effort to balance public accounts.
Source: GMB
