The new regulatory body will include officials from the Secretary of Awards and Betting and the Secretary of Federal Revenues.
Brazil.- Through the signing of a joint Ordinance between the Secretary of Awards and Betting (SPA) and the Secretary of Federal Revenues (Receita Federal), the Inter-Secretariat Working Group «GTI-Bets» was created to monitor the behavior of the gaming and betting sector, in relation to fiscal regularity and the maintenance of the requirements for the authorization of authorized legal entities, and, in particular, support the identification of possible illegal actions by companies not authorized to operate in Brazil, which may be involved in money laundering and other crimes.
The regulation determines that the GTI-Bets will also support a compliance program proposal to regularize tax obligations related to the period prior to authorization, for authorized legal entities, in addition to proposing joint actions to instruct the inspection tasks of the Subsecretariat of Inspection of the Receita Federal of Brazil and propose the creation of a specific channel to share information, within the legal limits of the activities of each organism, respecting fiscal secrecy.
The GTI will consist of three members, who will be appointed by the Subsecretariat of Inspection, and the General Coordination of Investigation, both of the Secretary of Federal Revenues of Brazil, and by the SPA. The representative of Sufis will be responsible for coordinating the work.
See also: Which brands are authorized to operate in the brand new Brazilian online betting market
This new working group will last for six months, extendable by decision of the secretaries. It will present bimonthly reports to the Secretaries, in addition to the conclusive report at the end of the work.
