Brazil Set To Regulate Sports Betting As High-Tax Market

Brazil is now preparing to adopt regulations for online sports betting without reducing the headline tax rate from 3 percent of turnover to a more competitive 1 percent, after an effort to amend its sports-betting law failed to score swift approval in Congress.

Officials had been angling for several weeks to tweak the law passed last December by attaching a package of amendments to must-pass legislation pending in Congress to restructure the governance of Brazil’s famed football clubs.

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