Legal gambling in Brazil could raise more than $9 billion a year in taxes, say supporters, who are continuing their efforts for a legal industry, despite threats by President Jair Bolsonaro to veto them.
The $9.5 billion figure was thrown out by the bill’s rapporteur in the Congress, Senator Angelo Coronel, who told Bloomberg News, “If there’s loss of revenue with the reform, we have to find alternatives,” adding, “One of them could be gambling taxes.”
Economy Minister Paulo Guedes has proposed a 15 percent tax on dividends and it has passed in the House but faces a tougher climb in the Senate. Coronel has proposed a gaming tax as an alternative.
Coronel expects the Senate to vote on the measure in November.
