Below is the official statement from ANJL in response to the proposal by economists from Itaú bank:
"It is important to note to economists that, in the regulated environment, all operations are subject to the collection of taxes and also 12% of Gross Gaming Revenue (GGR), which refers to gross revenue from bets minus prizes paid. For a betting house to operate, one of the federal government's requirements is the payment of a concession fee of R$30 million (US$6m). If this amount is added to the 12% of the GGR and the traditional taxes that companies already pay, the taxation results in a tax burden of approximately 42%.
This means that the regulated betting sector will inject R$20 billion (US$ 3.5bn) into the Brazilian economy annually, a value that should increase as the Ministry of Finance releases new operators into the market, in addition to generating at least 60 thousand new jobs within five years.
It is also important to inform economists that the model for allocating revenues collected from regulated betting houses is a reference for other countries, especially due to the efficient way in which resources are allocated to benefit the public interest, through the allocation of state funds for social purposes.
For example, there is an important contribution to be made in the sports sector alone: taxes paid on bets will be allocated to entities in the National Sports System, the Ministry of Sports, sports departments or equivalent bodies in the states and the Federal District, and sports confederations.
Therefore, proposing measures that harm the regulated betting sector is equivalent to encouraging the economic slowdown and serving narrow interests, without any commitment to the collective gains provided by the transfer of revenues to social impact initiatives. ANJL reiterates its willingness to engage in dialogue with all financial institutions, contributing to a qualified debate in search of positive solutions that benefit the population as a whole."
Source: GMB
