With the presidential sanction and the issuance of Law 14790/2023, it is the responsibility of the National Congress, within 30 days, to analyze the vetoes proposed by Lula. The deadline begins after the government delivers the message forwarding the Law to the Legislative Secretariat of the National Congress. This is expected to happen later this week, and the meeting, by constitutional obligation, should take place in the first week of February.
The law, when submitted to the Legislative Secretariat, will be included in the Agenda of the National Congress and, also by constitutional force, will block the agenda, which should expedite the process of voting on the vetoes.
To expedite the process, party leaders in the Chamber and the Senate must reach an agreement as quickly as possible. Depending on the leader of the government in the Senate, José Guimarães, who has been working hard for the approval of the economic agenda of the Minister of Finance, Fernando Haddad, this will happen as soon as Congress returns from the legislative recess.
When brought to the agenda in the National Congress, the overturning of the vetoes will depend on an absolute majority of votes, both in the Chamber of Deputies (257) and in the Senate (41).
The first vote will take place in the Chamber of Deputies, where the project turned into law began, then moving on to the Senate. If the minimum quorum is not reached in either House, Lula's vetoes will be maintained in Law 14790.
As Parliament is in legislative recess, negotiations for the discussion of the vetoes continue behind the scenes of the Power, and the Ministry of Finance is already doing its part, engaging with leaders in both Houses and is expected, by the middle of next week, depending on negotiations, to present a proposal to better detail the issue of income tax taxation for bettors.
The vetoes addressing the incidence of taxes on winnings in sports betting occurred due to the Federal Revenue, which saw in the tax exemption for prizes up to US$ 430,00 (first range of the progressive Income Tax table), a discrepancy in the calculation of winnings. Additionally, there was concern about the tax waiver resulting from the exemption.
The government itself understands that it needs to address the tax issue to ensure greater channeling of bettors to the regulated market in Brazil. We await the next chapters.
Source: GMB
