Brazil is going to tax sports betting at a rate of 15% of personal income over certain thresholds.
Brazil's Federal Revenue Service confirmed on Tuesday that prize winnings exceeding approximately €530 will be subject to the tax.
The net prize is covered by the rule; net prize is the difference between the amount bet and the value of the prize.
It is the responsibility of operators to keep an eye on prizes and determine whether any income tax needs to be subtracted from winnings.
Brazil's Federal Revenue Service confirmed on Tuesday that prize winnings exceeding approximately €530 will be subject to the tax.
The net prize is covered by the rule; net prize is the difference between the amount bet and the value of the prize.
It is the responsibility of operators to keep an eye on prizes and determine whether any income tax needs to be subtracted from winnings.