The initiative states that the authorized company must be incorporated under Brazilian law, with headquarters and administration in the country. It also has to prove that it has the operational, technical and financial conditions and requirements for the operation of casino games, as well as making an objective commitment to the transparency of gambling and adopting policies, procedures and internal controls to prevent money laundering, financing of terrorism and crimes against the financial and economic order.
According to the text of the proposal, profits from cash prizes earned from casino activities are subject to 20% tax, at a discount to the paying source. The bill was annexed to the proposal on the legalization of casinos and hotels-casino in Brazil, presented in 1991 by Federal Deputy Maurício Quintella Lessa, PR of Alagoas. The Chamber has no forecast to vote the bill conclusively.
In his justification to the parliamentarians, Motta notes that he is resubmitting a substitute approved in 1996. “We fully share the understanding of all parliamentarians who at the time, convinced of the need to legalize the practice of gambling, with pragmatism, without hypocrisy and with a new vision, they forwarded the matter to the Federal Senate, in the expectation of definitive regularization, unfortunately frustrated by the regimental filing there,” he points out.
Source: Jornal Minuano
