Brazil to impose 1% turnover tax on sports betting

Country’s Ministry of the Economy details first regulations for sports betting licensing following month-long consultation

The Brazilian government has released the first details of its forthcoming regulatory regime for sports betting, confirming operators will pay an annual tax rate of 1% on turnover. Under the proposed regime from the Ministry of the Economy, operators will also be required to pay a one-time licence fee of R$3m (£600,000) for a nine-year licence. All…

Brazil | IBIA | Regulation | Sports betting | Tax