Brazil: Parliament passes sports betting and online gambling bill ...Middle East

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Brazil: Parliament passes sports betting and online gambling bill
The lower house of Parliament of Brazil, on Wednesday, September 13, passed a historic bill relating to sports betting online gambling in the country. The bill will now allow the Brazilian Govt to tax betting and gambling activities at 18 per cent. It is however to be noted that the earnings out of these activities will only be taxed on the net revenue generated by a user. The bill will now head to the Senate to outlay further formal provisions. Now, the companies that are to operate in Brazil will have to obtain a grant. The grant will be valid for a total of thirty-six months. Furthermore, the fees to obtain a grant is set at 30 million Brazilian Real, which is roughly about US $6 millio

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