Online betting and e-commerce will pay taxes in Brazil

The proposal was made by the Minister of Finance of Brazil, Fernando Haddad

Brazil could impose taxes on certain electronic transactions and online gambling in its next tax reform scheduled for mid-year.

This Monday, the Minister of Finance of Brazil, Fernando Haddad, indicated that until now these activities are exempt from the payment of tariffs in Brazil. However, for Haddad this could be considered illegal.

In an interview with the local media Globonews, he stressed that according to estimates by the Ministry of Finance, “the application of taxes to these sectors (…) could mean a collection of about 15,000 million reais (3,000 million dollars) a year.”

The minister also referred to another initiative that will be submitted to the legislative chambers this week, aimed at easing the rigid rules in force since 2016 and that “limit the annual increase in public spending to the inflation registered in the previous year.”

Brazil is working on a reform to bring the state deficit to 0.5 % of GDP, bring it to zero next year, and in 2025 turn it into a surplus of 0.5 %.


Source: finanzasdigital

(Reference image source: Jonathan Petersson, Unsplash)

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