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Fernando Haddad's goal is to offset losses with the new income tax table in Brazil. Under the green light of the Lula Government, the Treasury will apply the taxation due to gambling in Brazil.
Since starting his third term in the presidency, the Lula government has been facing a high financial deficit in the Brazilian market. O Ministry of Finance and Fernando Haddad are mobilizing for the taxation of gambling in the Brazilian market. The decision would allow a collection of around R$ 2 billion to R$ 6 billion in taxes per year, thus offsetting the update of the Income Tax table.
Haddad: Taxation of online bets should raise between BRL 2 billion and BRL 6 billion
Lula's government aims at the financial deficit and, with Haddad's support, will apply new taxation to gambling in Brazil
Seeking new measures to circumvent the current scenario of financial deficit in the new Lula Government, Fernando Haddad is now mobilizing for a new decision by the Ministry of Finance in Brazil, the taxation of gambling in the country.
The objective of the new taxation is to guarantee the necessary collection for the public safes, in a scenario of strong growth in applications throughout Brazil.
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"I've already spoken with the president (Luiz Inácio Lula da Silva), he is in favor of it, because gambling around the world is taxed, in Brazil it isn't", said Haddad in a recent interview with UOL.
The new Minister of Finance has been mobilizing intensively in search of profitable projects for the Lula Government, such as the return of the collection of federal taxes on fuels in Brazil.
The decision of taxation of gambling in Brazil will focus, in particular, on casino applications and sports betting, which have been growing significantly in recent years.
The Ministry of Finance is preparing to forward the game regulations to the Civil House by the end of this month.
With the taxation of gambling, Haddad hopes to get around the current situation after updating the Income Tax table in Brazil.
He pointed out that the application taxation model is already ready, but it needs to be approved by the ministry to proceed to the Civil House to decide whether to apply or not in the coming months.
Taxation of gambling in Brazil can fill the Income Tax deficit and collect between R$ 2 billion and R$ 6 billion annually in the country
The decision of the Lula Government and Fernando Haddad on the taxation of gambling in Brazil can significantly contribute to the annual collection in the public coffers.
According to rumors of National market, a value between BRL 2 billion and BRL 6 billion is expected annually with the taxation of applications in the country.
The Ministry of Finance and Haddad have not yet responded to the decisions related to the agenda, but they have already been questioned about the rumours.
The Lula Government announced the expansion of the exemption of Income Tax from 1.903,98 reais to 2.640 reais, generating an impact of around R$ 3,2 billion this year.
Over the coming months, the state administration will need to move to meet the financial needs of the Brazilian public coffers.
Thus, the taxation of gambling by the Lula and Fernando Haddad governments will only be the first stage of the process.
