backThe Senate’s Economic Affairs Committee is making another attempt today to vote on a bill that would increase taxes on sports-betting platforms and raise the corporate social contribution paid by fintechs and traditional banks. The proposal, authored by Senator Renan Calheiros, doubles the rate applied to betting companies and significantly expands the CSLL charged to the financial sector. It is designed to complement the recently approved law that broadened income-tax exemptions.
Negotiations have revolved around the bill’s rapporteur, Senator Eduardo Braga, who has sought to fine-tune the text in response to pushback from fellow senators and the Ministry of Finance. The main points of contention include the economic impact of the higher rates and the creation of a minimum effective tax burden meant to level the playing field between established banks and fast-growing fintechs.
Lawmakers are also wary of how the bill will fare in the Chamber of Deputies, where previous efforts on the same topic were significantly altered or allowed to lapse. If approved in the committee, the measure goes straight to the Chamber unless senators file a motion to take it to the full Senate floor.
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