Brazil’s latest attempt to sharply raise gambling taxes has stalled once more, as lawmakers postponed the vote on a proposal to double the current rate — and have yet to set a new date for its return.   The delay follows the collapse of an earlier provisional measure that sought to lift the gambling tax rate from 12% to 18%. In October, legislators introduced a new plan to raise the levy on gross gaming revenue to 24%, but despite multiple attempts, it has not advanced.   An

The European Union is preparing a new proposal to the United States aimed at advancing the next phase of the trade deal reached between the two sides earlier this summer, according to people familiar with the matter.   The plan, which has not yet been announced in the US, will center on five key areas, including the lowering of rates for additional products such as wines and spirits.   The initiative comes ahead of a meeting later this month between EU trade chief Maros Sefco

Brazil is poised to become a pioneer in global tax reform with the introduction of a unique value-added tax (VAT) system that promises to create a more competitive and investor-friendly economy, according to a new working paper published by the OECD Economics Department. The paper, titled “The reform of Brazil’s consumption tax system,” was released on Monday, November 10, and authored by OECD policy experts Jens Mathias Arnold, Piet Battiau, Falilou Fall and Karoline Spies.

Former Speaker of the House Arthur Lira has called on Brazil’s Federal Government to focus on combating illegal betting operations before pursuing higher taxes on licensed companies.   Speaking to journalists during an event in São Paulo, Lira said that betting is “inevitable” in Brazil and argued that prohibition is not an effective approach to managing the industry.   The congressman emphasized that authorities should prioritize enforcement against unlicensed betting platfo

Kenya’s latest overhaul of its gambling taxation framework under the Finance Act 2025 is being hailed by legal and fiscal experts as a potential windfall for government coffers—but the new policy also shifts the cost burden onto casual bettors, setting the stage for notable behavioural shifts across the betting landscape. The new legislation, which came into effect in July, replaces the former 20% tax on net winnings with a 5% levy on every withdrawal made from any betting wa

In a landmark reform of its corporate tax framework, the Maltese government officially enacted the Final Income Tax Without Imputation Regulations on September 2, 2025, introducing a 15% elective final tax on company profits. The move marks one of the most significant overhauls of Malta’s business taxation system in recent years, offering what the government describes as a simpler and more transparent alternative to the long-standing imputation and refund model. From 35% to a

President Donald Trump hailed his meeting with Chinese President Xi Jinping in South Korea as a major breakthrough, announcing that he would cut tariffs on China while Beijing had agreed to resume exports of rare earth elements and purchase American soybeans. Speaking to reporters aboard Air Force One, Trump said the U.S. would lower tariffs imposed earlier this year as a penalty for China’s sale of chemicals used to produce fentanyl—from 20% to 10%. The move effectively redu

The UK Parliament’s Treasury Committee heard on Tuesday that the Netherlands cannot be used as a credible case study to suggest gambling tax increases drive players toward the black market. Speaking before MPs, Carsten Jung, interim associate director for economic policy and AI at the Institute for Public Policy Research (IPPR), said that while raising taxes can generate substantial revenue, it is not a stand-alone solution to problem gambling. Jung appeared as part of the fi

The Brazilian government recorded an impressive BRL6.8 billion in tax revenue from gambling and fixed-odds betting activities in 2025, according to recent data released by the Federal Revenue Service. The amount marks an unprecedented 17,000% increase compared to the BRL38 million collected in 2024, a result attributed to the formal integration of the sector into the country’s regulated tax system. In September alone, betting-related tax revenue totaled BRL1.7 billion, a rema

Brazil’s Finance Minister Fernando Haddad has spoken out in defence of the government’s controversial proposal to raise taxes on bets, banks, and billionaires, calling the initiative a fair and essential measure to promote fiscal responsibility and social equity. Addressing critics of the plan, Haddad dismissed claims that the proposed tax increases are unjust. “The taxation of BBBs, billionaires, banks and bets, is only unfair in the minds of those who are uninformed,” he sa

Cyprus’ long-anticipated tax reform is entering its final stages, with the relevant legal bills expected to be completed within the next...

A Brazilian congressional joint committee has approved a bill that imposes retroactive taxation on licensed betting operators, although a...

Concerns are growing among industry experts that the UK government’s planned increase in gambling taxes may end up hurting, rather than...

Concerns are mounting in the Netherlands over the government’s plan to raise gambling taxes once again, with Dutch Lottery CEO Arjan Blok...

Corporate income tax (CIT) rate reductions are slowing, with wide disparities in revenue shares from the tax continuing to mark...

A dozen of America’s highest-paid bank CEOs may have collectively saved nearly $53 million in personal taxes from a single provision in...

The Kakamega High Court has thrown out a constitutional petition that sought to overturn several key tax provisions governing Kenya’s...

The United States has imposed tariffs of 50% on Indian goods, one of the steepest trade penalties in the world, in a move by President...

Macau’s Financial Services Bureau has reported that the government’s revenue from gaming taxes in July amounted to around MOP$8.11...

The British Horseracing Authority (BHA) has announced that all race meetings across the UK scheduled for 10 September will be cancelled...