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The ongoing debate among Brazilian lawmakers about the inclusion of fantasy games in electronic gaming legislation heats up. Bill 2,796/2021 has stirred varied opinions on how fantasy games, where players create virtual teams mirroring the real-world performance of athletes, should be treated in terms of law.
Earlier this week, the bill, poised for discussion in the House Plenary, met with differing views. While some advocated for the inclusion of these virtual games, others expressed concern about potential tax loopholes for game providers.
Vilson Antonio Romero, the head of the National Association of Tax Auditors of the Federal Revenue (ANFIP), believes the bill should be scrapped. He suggests a fresh proposal for the provisions, urging its evaluation in separate Senate committees.
Meanwhile, Oksandro Gonçalves, who leads the Brazilian Association of Law and Economics, criticizes the bill’s ambiguous nature. “The object is not clear, the definitions are not properly framed, and there is widespread confusion regarding several aspects. If it intends to bring legal certainty, these definitions must be precise. It’s a collection of loose items that need to be sorted. This is only possible through great discussion, and not through urgent requests,” he remarked.
Additionally, Simone Vicentini from the Ministry of Finance underscores the financial implications of the bill. She points out, “With these exemptions, the estimated loss of revenue is around R$800 million (US$163,039,040) per year. The Federal Revenue is contrary in this aspect. From a technical point of view, due to controversies and controversial points, we understand that it is also necessary to grant more time for debates and in-depth studies.”