{"id":92,"date":"2024-06-13T23:27:40","date_gmt":"2024-06-13T20:27:40","guid":{"rendered":"https:\/\/abigcandycasinonodepositbonus.icu\/2024\/06\/13\/brazil-embraces-european-model-for-sports-betting-taxation\/"},"modified":"2024-06-17T13:22:16","modified_gmt":"2024-06-17T10:22:16","slug":"brazil-embraces-european-model-for-sports-betting-taxation","status":"publish","type":"post","link":"https:\/\/abigcandycasinonodepositbonus.icu\/2024\/06\/13\/brazil-embraces-european-model-for-sports-betting-taxation\/","title":{"rendered":"Brazil Embraces European Model for Sports Betting Taxation"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/IDthta5sUGQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>South America&#8217;s largest nation is emulating the European Union by modifying its regulations on wagering on athletic events.<\/p>\n<p>Legislation enacted in late 2018, specifically Law No. 13,756\/2018, has governed sports betting in Brazil.  Recently, the lower house of parliament approved some significant adjustments.<\/p>\n<p>The most noteworthy alteration? The method by which the government levies taxes on gaming entities. Rather than taking a percentage of total income, the emphasis is shifting to taxing the net gaming revenue (NGR) \u2013 the earnings remaining after winnings are paid out.<\/p>\n<p>What&#8217;s the rationale for this change? Legislators contend that it will foster a more resilient and enduring sports betting sector. This strategy is already prevalent in Europe and is viewed as a means to guarantee a consistent flow of funds for vital public initiatives.<\/p>\n<p>Regarding funding, the amended legislation specifies how this fresh tax income will be allocated. A considerable portion \u2013 95% \u2013 will be directed towards fundamental government services such as healthcare and education. A share is also designated for athletic associations and law enforcement.<\/p>\n<p>Congressman Moses Rodrigues, a prominent advocate for these modifications, emphasized the effectiveness of the NGR model in Europe. He posits that it incentivizes bettors to select domestic providers, ultimately bolstering the Brazilian market.<\/p>\n<p>Beyond reshaping the sports betting landscape, the Chamber of Deputies also ratified a provisional measure, Provisional Measure 1034\/21, which raises taxes on financial entities and the chemical sector. <\/p>\n<p>During a ballot regarding the proposed legislation, legislators on the left also attempted to eliminate Section 6, which pertains to wagering on athletic events. However, the proposed change was defeated by a significant margin of 291 to 127. This demonstrates the strong commitment of numerous Brazilian legislators to ushering their nation into the contemporary era of sports wagering. <\/p>\n<p>Just in the preceding month, the Rio de Janeiro region commenced the incorporation of novel wagering choices into its state-run lottery offerings. Their aim is to entice fresh enterprises capable of providing superior wagering and lottery products. It appears that Brazil is on the cusp of a significant transformation in its gambling landscape. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>South America&#8217;s largest nation is emulating the European Union by modifying its regulations on wagering on athletic events. Legislation enacted in late 2018, specifically Law No. 13,756\/2018, has governed sports betting in Brazil. Recently, the lower house of parliament approved some significant adjustments. The most noteworthy alteration? The method by which the government levies taxes [&hellip;]<\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Brazil Shakes Up Sports Betting: New Tax Rules &amp; More<\/title>\n<meta name=\"description\" content=\"Big changes are coming to sports betting in Brazil! The South American nation is taking a page from the European Union with its latest regulations. 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