“We are going to regulate (online gaming). We have readjusted the IR (Income Tax) table, and this has a small loss of revenue. We are going to compensate with the taxation on these electronic games that do not pay any tax and take a fortune of money from the country,” said the minister in an interview with UOL.
A source from the Ministry of Finance told the Reuters news agency that the measure will reach online casino and sports betting companies.
President Lula announced that, in May, he will increase the Income Tax exemption for those who receive up to R$ 2,640 (US$ 506) per month. The estimate is a loss of R$ 3.2 billion (US$ 614m) to public coffers in 2023 and R$ 6 billion (US$ 1.15b) in 2024.
“In March we regulate (gaming). We will send it to the Civil House and obviously the ministries involved will be called, but it is a prerogative of the Treasury. I have already spoken with the president (Lula) about this and he is in favor of it. Gaming is taxed worldwide,” said Haddad.
The numbers on the expected collection with the new tribute are not yet closed. The minister, however, says that it is in the “billions”.
“The numbers are changing a lot. This is one of the problems that we have to investigate better. We are working on the matter. The Federal Revenue Service and the Secretariat for Economic Reform are estimating the collection, and the numbers are not converging. The model is ready, but a slightly more accurate estimate is needed. But it is something in the order of billions, not many, but a few,” he pointed out.
Source: GMB
