According to them, the text will focus only on sports results. Other types of bets will be dealt with later by Congress. In addition, taxation of any types of games, such as electronic games, for example, are not part of the PM.
In 2018, the federal government legalized the sector, but did not regulate it. The first objective of the PM is to create an obligation for bets companies to formally settle in Brazil, and with that, start paying taxes as the law determines that companies do.
The second step is to tax prizes. This means that the individual bet will not be taxed, but there will be a discount on the prize paid to the winner, which will already be debited directly by the bet company and the tax paid to the government. Roughly speaking, it is the same as with lottery games. The rate to be applied is not yet defined.
In addition to the PM, the Ministry of Finance will also publish ordinances with some extra explanations. There will be an ordinance explaining how the company's regulation will be carried out, what steps it needs to take to regularize itself and another to deal with manipulation of bets, for example.
The text is prepared jointly by the Executive, Economic Reform, National Treasury and Revenue departments of the Ministry of Finance and also by the Ministry of Sports.
Source: O Globo
