The Federal Revenue has established that net prizes of up to R$2,259.20 obtained from betting on bets will not pay Income Tax. This Tuesday (7th), the Federal Revenue published an ordinance that expands the existing exemption for traditional lottery games to the modality of “fixed odds bets”, the so-called “bets”. The value represents the limit of the first IR exemption band. The change is already in effect.
Amounts exceeding the exemption ceiling will be taxed at 15%, and payment must be made at source. This way, the player will already receive the prize with the tax discount, without the need to make any transfers to the IRS.
Fixed odds sports bets are those in which the bettor knows exactly what the rate of return is at the time of the bet. With the new law, the following are regulated: virtual betting, physical betting, real sports-themed event, online gaming, virtual online gaming events.
The regulation of the betting market was sanctioned by President Luiz Inácio Lula da Silva in December last year, after being approved by the National Congress. The text of the law established that the prizes obtained would be taxed at 15%. With the ordinance, the IRS equals the understanding already adopted for traditional games.
Net premiums
The standard defines net prizes as being the difference between the value of the prize paid and the amount bet, that is, the increase in equity obtained by the bettor, calculated for each bet after the end of a sporting event or for each session of a virtual online gaming event. -line.
The regulations also establish that betting operating agents are responsible for collecting the tax relating to the operations carried out by them. Furthermore, betting losses will not be deductible.
It is worth noting that 88% of the revenue from bets will be used to cover the cost and maintenance of the operating agent for the fixed-odd betting lottery and other betting games. The remaining 12% will be distributed to different areas, with the majority of resources going to Sports and Tourism.
