Športne stave

Brazil – Betting bill gaining steam in São Paulo

Betting bill (Račun 613/2022) has been approved in its first public hearing. The bill would put in place a minimum rate of only 2 per cent on the “ISS” tax (the tax on goods and services) for betting companies looking to set up in the city of São Paulo.

If passed during its second hearing it will be sent for the mayor of the city of São Paulo, Ricardo Nunes. His signature is highly likely given the fact that it was presented by the Chief Executive at the end of October.

The aim of the bill is to create new jobs and generate more investment opportunities for betting, bingo, fantasy sports and lottery companies in the city ahead of Brazil’s sports betting bill which should go into effect in December along with a wider expansion of the gambling industry overall.

O ISS je davek ki je v pristojnosti občin in zajema storitve, ki jih zagotavljajo podjetja, korporacije ali neodvisni strokovnjaki, če dejavnost ni v pristojnosti niti federacije niti zvezne države.

Fabio Riva advisor and government leader in the Chamber highlighted the importance of the São Paulo capital having a competitive ISS rate that could attract large international companies in the sector. “These companies, by setting up here, generate jobs and income. So it’s a win-win game,” he said.