A new normative ordinance in Brazil has confirmed a 15% tax on player winnings above BRL2,824 (£437.77/€508.05/$547.25).
The Special Secretariat of Federal Revenue of the ministry of finance published Normative Ordinance No 2,191 in the Official Diary of the Union on Tuesday. The ordinance outlined the tax framework for betting in Brazil after the Federal Revenue Service (RFB) confirmed its ruling for a personal income tax (IRPF) on betting.
Brazil is in the process of clarifying its betting laws. The country passed legislation to regulate sports betting and igaming on 21 December. President Luiz Inacio Lula da Silva signed Bill 3,626/2023 into law in late December.
There will be a 15% personal income tax in Brazil, as decided by the Economic Affairs Commission in November. However, the tax will only apply on net winnings of more than BRL2,824. The tax will apply at the time of winnings being paid and be taxed at source before a player receives their winnings. The betting operator w..
