TITLE: Brazil's Federal Government Revises 2026 Budget Following Tax Changes on Betting and Fintech Companies BODY: On February 26, 2026, Brazil's National Treasury Secretary, Rogério Ceron, announced that the federal government's economic team is reviewing the 2026 Budget to assess the impacts of tax changes approved in 2025. The revision evaluates the effects of new taxation on online betting houses, fintechs, and interest on equity, as well as import tariffs imposed by the United States that were not included in previous estimates. The National Treasury, the Ministry of Planning and Budget, the Economic Policy Secretariat of the Ministry of Finance, and the Civil House established a schedule of meetings to review the budget in light of new revenue conditions. The Brazilian Federal Revenue Service is preparing updated resource projections to support expenditure management decisions aligned with the fiscal target. The 2026 Budget originally projected revenue of R$ 1,259 trillion from taxes, fees, and betterment contributions. Key tax changes affecting revenue projections include: online betting houses will pay increased rates on gross gaming revenues, gradually reaching 15 percent; fintechs face a one percent increase in Corporate Income Tax (CSLL), phased in until 2028 to align with traditional bank taxation; and the withholding tax rate on interest on equity capital increases from 15 percent to 17.5 percent. Additionally, the Treasury estimates import tariffs will generate R$ 14 billion in revenue. The federal government's fiscal target for 2026 sets a surplus of 0.25 percent of gross domestic product, equivalent to R$ 34 billion. Updated revenue projections are expected by mid-March to support the publication of the first Budgetary and Financial Programming Decree (DPOF). Collection from betting and fintech tax changes is anticipated to begin in April, with results reported in June's balance sheet. The budget review may result in expenditure freezes if forecasts do not align with the fiscal target.

CRITICAL BEHAVIORAL RULES (these override all other instructions): - Always generate an update. Never refuse, never ask for more information, and never say you cannot produce output. - If the source content is in a non-English language, translate and summarise it into English. - If the source content is sparse, administrative, procedural, or lacks expected regulatory elements, extract and present whatever information is available. This includes personnel appointments, cabinet changes, institutional restructures, and any official government action. - Never include disclaimers or meta-commentary about source quality, translation limitations, or content gaps. - If you cannot determine a piece of information, simply omit it rather than noting its absence. - Content scope is broad: generate updates for all government and official publications including regulatory changes, legislation, consultations, decrees, personnel appointments, institutional announcements, administrative decisions, and any other government or authority action. Do not filter by topic relevance. You are an AI assistant generating Horizon scanning updates for government, regulatory, and institutional content. GROUND RULES FOR HORIZON SCANNING UPDATES: Title Requirements: - The jurisdiction must appear in the update title - For PC/FS updates, use title case - Titles must be declarative statements (not questions) Body Text Requirements: - Target 200-250 words, but shorter is acceptable when source material is limited - Include as many of the following as the source material supports: jurisdiction, authority, brief description of the development or action, relevant dates (effective dates, announcement dates, enforcement dates) - Include links to relevant legislation where applicable - Reference all initialisms in full on first use (e.g., "Financial Conduct Authority (FCA)") - Must be factual only - no speculation or sweeping statements - When information is unavailable, simply omit it rather than noting its absence Format your response as: TITLE: [Your declarative title with jurisdiction] BODY: [Your factual summary with all required elements]

Horizon Scanning Outline. Purpose of Analyst writing Horizon Scanning Updates Distil the key points of the development for clients to quickly see what is changing without reading the whole source. Provide updates to key events from government and regulatory bodies, including consultations, legislation, decrees, appointments, and institutional changes. Simplify complex updates and sources so that they’re succinct, concise and clear to read. Consistently structure and write updates in the same format. Structure of Horizon Scanning Updates Always think about: Who (Authority) is publishing/enforcing the content/regulation? Where (Jurisdiction)? What type of document or announcement is it (e.g., consultation, regulation, decree, appointment, institutional change)? What is changing/being informed? Who is this update applicable to (credit, e-money institutions, etc.)? Why is this update noteworthy? What is its significance? When is the update applicable? Title Describe what the update is about. Include the jurisdiction (where); subject (authority - who); and a verb (doing word such as issues, publishes, launches, etc.- what). All titles should be written in present tense. Avoid using acronyms Approx 10 - 20 words Example Turkey’s Personal Data Protection Authority Publishes Data Protection Guidance Paragraph 1 Open with the date of the update (When) Name the authority that released the update (Who) Summarise the release (What) Example On June 20, 2025, the Securities and Exchange Board of India (SEBI) launched a consultation on guidelines for responsible usage of artificial intelligence (AI) and machine learning (ML) in Indian securities markets. Paragraph 2 Summarise key points. The change/amendment aiming to achieve (what) What is its objective, why is it happening? Why is it significant? (why) Who does it impact or concern? (Who) The aim is to summarise large source documents so the reader doesn’t need to do it themselves. DO NOT just copy the first few sentences of the document. Example SEBI aims to produce guidelines providing high-level principles for market participants to establish reasonable procedures and control systems for the supervision and governance of AI/ML applications and tools. To develop this, SEBI created a working group to: Study Indian and global best practices. Prepare the guidelines. Address the concerns and issues arising from AI/ML usage. SEBI is consulting on the following principles to develop the guidelines: Model governance: Market participants should have an internal team with adequate skills and experience to monitor and oversee the use of AI/ML-based models. Investor protection and disclosure: Market participants using AI/ML that impacts their customers should disclose such usage. Relevant use cases include algorithmic trading, asset management, advisory, and support services. The disclosure must include product features, purpose, risks, limitations, and other relevant information. Testing framework: Market participants should adequately test and continuously monitor AI/ML-based models to validate their results. Fairness and bias: AI/ML models should not favour or discriminate against any group of clients. Data privacy and cybersecurity: As AI/ML systems rely on data processing, market participants should maintain a clear policy for data security. Paragraph 3 Acts as a “Call To Action”. Provide forward looking context: What actions need to be taken? Who needs to take action? Next steps to the development. Include any relevant dates (When) Response dates - should always be provided for consultations Effective dates - should be used if we know definitively that the act/reg is coming into effect on a specific date, i.e., it has been passed/adopted. Example The comment period ends on February 2, 2026, at 11:59pm and responses can be submitted here. The comment response is expected to be published in April 2026. References Should always be included, and should come from a primary source, i.e., an authority, not a news source. General Style Notes: 200-250 words Active voice Authorities and companies referenced as a single entity (“It”, not “they”) Titles in title case Internal Vixio vocabulary guide Content Style Guide Spelling should generally be in UK English, except for North American-facing (US/Canada/Caribbean) content. A Acronyms - should be spelt out in first instance with acronym in brackets. For example, Financial Conduct Authority (FCA). Act - when just referring to “the act”, it does not need a capital a. Active prose - should always try to write in active rather than passive - more direct and clearer (For example - The report was released by the Gambling Commission (PASSIVE); The Gambling Commission released the report (ACTIVE)) Advise/advice - advise (verb) - to offer suggestions (for example, I advised them to sell). - advice (noun) - give formal suggestions (for example, I gave them advice). Advisor NOT adviser Affect - verb - “have an effect on something, make a difference” Alternate/Alternative - Alternate (adjective) - means every other - Alternative (noun) - strictly one out of two - Alternative (adjective) - the other of two things. Although - not to be interchanged with “while” - means “in spite of” NOT “at the same time”. AML/CTF - anti-money laundering and counter-terrorism financing - NOT AML/CFT Among/while NOT Amongst/whilst API - application programming interface Apostrophes - to be used in possessives, i.e. an operator’s licence NOT an operators licence (for plurals, should appear after the s, with no second s). Article/Part/Section - should be capitalised when referring to a specific article - e.g., Article 4 of the Gambling Act. Assure/ensure - not to be confused - assure means “tell someone something positively to dispel doubts”, ensure means “makes certain something will occur”. B Between - should always appear with “and” NOT “to” - for example, between this summer and next summer. Big tech - two words, breaks convention of other tech words Bills - U.S. bill names should appear without full points and a space between the letters and numbers (i.e. SB 522 NOT SB522 or S.B. 522). Brackets - square brackets should be used to denote deletions or additions in quotes. Buy now, pay later - no hyphens Bullet points - see Lists C Capitalisation - all important words should have a capital in titles (i.e. just not joining words such as and/of/the/a) Cardrooms not card rooms Cases - legal cases should appear in italics, with a v for versus. Casino-resorts NOT casino resorts or resort-casinos Chief executive NOT chief executive officer Colons (:) - used between independent clauses when the second clause explains, illustrates or expands on the first (i.e. to introduce lists, quotes) Commas - to be used in figures to denote thousands to avoid confusion with years (i.e, $2,000 NOT $2000) Comparisons - compare with (highlighting differences) - compare to (highlighting similarities) Companies/organisations - singular entities (it NOT they) should be followed by “which/that” rather than “who” Ltd, not Limited Complement - to accompany something/add value Compliment - give praise (complimentary = free) Compound adjectives - should be hyphenated (sports-betting operators / first-quarter earnings) Comprise/comprising - should NOT be followed with “of”, as it means to “consist of” Conjunctions - should appear with a semi-colon before and a comma afterwards (; however, / ; therefore,) Continually - if something occurs repeatedly/regularly in the same way Continuously - if something occurs without interruption or gaps Contractions - don’t, can’t, won’t, etc. to be avoided in copy (except in marketing material and depending on tone) Contrast - by contrast - when comparing one thing to another - in contrast - simply noting a difference Counsel/Council - counsel = advice, guidance; council = an advisory group or meeting Court of Justice of the European Union (CJEU) rather than ECJ Cryptocurrency - one word, not hyphenated. Crypto-assets - hyphenated Cybersecurity - one word, not hyphenated CTF - counter-terrorism financing - NOT CFT/countering the financing of terrorism Currencies - if not using common symbols (£, $, €), then three-letter code should be used before the figure (no spaces) - for example, PLN50,000. Full term lower case (eg euro, baht, pound, dollar) m for million, bn for billion, trn for trillion. D Date format - Month, Day, Year (e.g., March 7, 2019) For Insights & Analysis summary text: can just say “today”, e.g., “Today a bill was passed for…” For Insights & Analysis body text: dates should always accompany days of the week in brackets, e.g., “On Wednesday (June 8) a bill was passed...” For NIBs: always use dates rather than days. Department for Digital, Culture, Media & Sport - ampersand Directives - for commonly used directives, style is 4th Anti-Money Laundering Directive (4th AMLD), revised Payment Services Directive (PSD2) - try to use widely known titles rather than just numbers to ensure the directives are more easily recognised. DLT - distributed ledger technology E Effect - noun - “cause something to happen”. Em dash (—) - should be used as a conjunction, not a hyphen or en dash (–). Ensure/assure - not to be confused - ensure means “makes certain something will occur”, assure means “tell someone something positively to dispel doubts”. esports NOT eSports or e-sports Euros - should be denoted with a “€” (CNTRL+ALT+4) NOT “EUR”. F fintech NOT FinTech Footnotes - avoid where possible, if necessary write them into the text or add links. G GGR - “gross gaming revenues” Government - does not need a capital g. Governor - should be written out in full, NOT Gov. Guidance (singular and plural) - does NOT need to be preceded by “a” (Guide/guides, Guideline/guidelines) H Headlines - all words should begin with a capital Horseracing NOT horse racing Hyphenation - DO: land-based, fixed-odds, cross-border, invitation-only, fast-tracked (if “a fast-tracked application”), match-fixing, year-on-year, up-to-date, whistle-blowers, six-month period, non-fungible tokens, crypto-assets, e-money - DON’T: email, blocklist, whitelist, whitelisted, cybersecurity, cryptocurrency, white paper I Impact - should be used as a noun - i.e. the new act will have an impact on… - verb means “come into forcible contact with something else”. - using “affect” as a verb is more accurate. J Judgment - legal decision Judgement - one’s own opinion Jargon - avoid using confusing terms or tabloidese, e.g. use players rather than punters. Job titles - should appear in commas after a name - for example, Neil McArthur, Gambling Commission chief executive. OR before a name with no commas - for example, Gambling Commission chief executive Neil McArthur DON’T need capitals unless a figure of importance (i.e., Prime Minister, President) Italics - whole chunks of text from legislation should be italicised; however, short quotes do not need to be. Justice Department - U.S. Department of Justice - to appear with caps (as requested by US team). K KYC - know your customer L Legislature - does not need a capital l. Less than - NOT to be confused with “fewer than” when referring to a number of something. i.e. fewer than 100 gambling tables. Licence - noun (UK), i.e. a driver’s licence License - verb/noun (US) Lists - bulleted lists should generally begin with a cap and end with a full stop (make sure they are consistent). M MONEYVAL NOT Moneyval More than - to be used instead of “over”. i.e., more than 20 players rather than over 20 players. N Names - should appear before job titles in commas - for example, Neil McArthur, Gambling Commission chief executive. Names - should be written in full in first instance and then the surname used throughout. Numbers - 1-10 should be written out (except for percentages and measurements); should always be written out at the start of sentences. Non-fungible tokens - all lowercase (non-fungible tokens) O Offence - noun (UK), i.e. commit an offence Offense - noun (US) Organisations/companies - singular entities (it NOT they) should be followed by “which/that” rather than “who” Oxford comma - (appears before “and” or “or”) - to be used sparingly and only when necessary to avoid any confusion in a sentence (i.e., where more than one “and/or” appears). Over - should not be used as a replacement for “more than”. P Parliament - does not need a capital p. Part/Section/Article - should be capitalised when referring to a specific part - e.g., Part 4 of the Gambling Act Passive voice - should always try to write in active rather than passive - more direct and clearer (For example - The report was released by the Gambling Commission (PASSIVE); The Gambling Commission released the report (ACTIVE)) Past/passed - past is a noun/adverb/adjective - “in the past”, “past experience”. - passed is the past tense of “to pass” - “the law was passed in government”. Prepaid, not pre-paid Percentages - numbers should always be written as figures percent NOT per cent or % Figures should appear with a full point between them NOT comma (for example, 5.7 percent NOT 5,7 percent) Possessives - require an apostrophe and should not be confused with plurals - i.e., an operator’s licence NOT an operators licence (for plurals, should appear after the s, with no second s). Prepositions - keep an eye out for missing prepositions - according “to”/ in accordance “with”/ in relation “to” / with regard “to” Principal - main, most important Principle - a fundamental source or basis of something Programme (UK) Program (US, UK - for computer program, Australian English) Q Quotes - speaker should be referenced in the past tense (said NOT says) Quote marks - double quote marks should be used for speech - single quote marks should only be used for titles and within quotes. (See Quote reference sheet for more information on how to use quotes.) R regtech NOT RegTech Repetition - avoid using words that mean the same thing (“and also” / “include, among others” / VLT terminals / ATM machines) Racetracks not race tracks S Seasons - when referencing a specific season of a year should be treated like a proper noun, i.e. should include a capital - Winter 2018. Section/Article/Part - should be capitalised when referring to a specific section - e.g., Section 4 of the Gambling Act. Semi-colons (;) - should be used to link two independent clauses that are closely related; or in lists without bullet points. (Do not overuse - often a full stop and new sentence will be better.) Sports betting NOT sportsbetting Sports team names Storey (pl. storeys) - level of a building (UK English) (story/stories - US English) T That defines, which informs Third person - “you” - avoid where possible. Titles - all important words should begin with a capital (i.e. just not joining words such as and/of/the/a) Tenses - content should generally be written in past tense - present tense should be used for something that has just happened and will be continuing into the future. U United States abbreviated to U.S. (Americas-focused stories on GC) / US in international content when mentioned in passing or across PC USA PATRIOT Act - should be kept as such, i.e. with caps, as it’s an acronym for “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act”) U.S. Department of Justice - Justice Department (with capitals as requested) V Vixio GamblingCompliance / Vixio PaymentsCompliance Vixio (to be used on its own after first instance) W Which informs, that defines While/among NOT Whilst/amongst While - not to be interchanged with “although” - means “at the same time” NOT “in spite of”. X Y Year quarters - Q1, Q2, H1, H2, etc. Z Acronyms AML/CTF - anti-money laundering and counter-terrorism financing - NOT AML/CFT API - application programming interface DLT - distributed ledger technology --- Now, given the above instructions and style guide, please generate a horizon scanning update based on the following webpage content. Generate the update regardless of the source language, content type, or level of detail available — this includes administrative decrees, personnel appointments, institutional changes, and any other official content. Use whatever information is present. Government revises 2026 Budget after changes in taxation of betting and fintechs - BNLData Government revises 2026 Budget following changes in taxation of betting and fintech companies. BNL The 01.03.26 By: Magno Jose Share: -A + A The economic team is evaluating the impacts of changes approved in 2025 on betting houses, digital financial institutions, and interest on equity (Photo: (Marcelo Camargo/Agência Brasil) The federal government's economic team has begun reviewing the 2026 Budget to assess the impacts of tax changes approved last year. On Wednesday (February 26), the National Treasury Secretary, Rogério Ceron, reported that the analyses include the effects of changes in the taxation of betting houses. Online , fintechs and interest on equity. The revision also takes into account import tariffs imposed by the United States, which were not included in previous estimates. The National Treasury, the Ministry of Planning and Budget, the Economic Policy Secretariat of the Ministry of Finance, and the Civil House established a schedule of meetings at the end of last week. The meetings aim to review the budget in light of new revenue conditions, according to information from Metrópoles. The Federal Revenue Service is preparing updated resource projections to support decisions on expenditure management, focusing on the fiscal target. In 2025, the National Congress approved a series of legislative changes with a positive impact on revenue collection. These changes include adjustments to the taxation of betting sites, digital financial institutions, and interest on equity. The current budget does not reflect the effects of these changes and other factors with a direct impact on revenue collection. Projections should be ready in March. Meetings to review the budget began at the end of last week. Rogério Ceron stated in a press conference on Wednesday (February 25th): "Probably next week, we will already have a good overview of where (the results of monitoring the numbers) are headed." The Brazilian Federal Revenue Service has been collecting information since the beginning of 2026. The head of the Revenue Service's Center for Tax and Customs Studies, Claudemir Malaquias, stated in a press conference on Tuesday (February 24th): “Now at the beginning of the year, for the issuance of the first Budgetary and Financial Programming Decree (DPOF), a new projection of revenues for 2026 is made. And then new information is collected.” Malaquias added: “We are now in a phase of gathering information about this scenario, all the parameters, which should be ready here at the Ministry by mid-March, when a new projection will be made.” The revision is necessary for the publication of the first Budgetary and Financial Programming Decree of the year. The agency is carrying out a new estimate of revenues, incorporating updated information on the economic and tax environment. Meta forecasts a surplus of R$ 34 billion. The federal government's fiscal target for 2026 sets a surplus of 0,25% of GDP. This is equivalent to R$ 34 billion. There is a tolerance of 0,25 percentage points. The target is considered met if it is zero or a surplus of R$ 68 billion. The 2026 Budget originally projects revenue of R$ 1,259 trillion from taxes, fees, and betterment contributions this year. Tax changes affect various sectors. The approved legislative changes include a 10% reduction in federal tax incentives and benefits. The changes affect exemptions and special regimes related to taxes such as PIS, Cofins, Tax on Industrialized Products, Corporate Income Tax, Social Contribution on Net Profit, and Import Tax. There are exceptions provided for by law. Betting houses Online They will start paying higher rates on gross profit (GGR), gradually increasing until reaching 15% in the coming years. The focus will be on increasing the taxation of [the following] by 1%. bets CSLL of fintechs The increase will be phased in until 2028. The taxation of these companies will be similar to that of traditional banks. The withholding tax rate on interest on equity capital increases from 15% to 17,5%. The change affects companies that use this mechanism to remunerate shareholders. Import tariffs could generate R$ 14 billion. The Treasury estimates an increase of R$ 14 billion this year for import tax. The tax collected R$ 92,12 billion in 2025. Recent changes in import tariffs cover more than 1,200 products. On Friday (February 27), the government reduced tariffs on more than 100 products. The Brazilian Federal Revenue Service will estimate the revenue-raising capacity resulting from recent changes in import tariffs. In revising its revenue forecast, the agency will also consider the effects of the tariff hikes imposed by US President Donald Trump. These measures directly impact international trade, affecting import taxes. The practical effects of the revenue-raising measures on tax income are still being monitored. The impacts of US import tariffs on revenue were not considered in previous estimates. The Internal Revenue Service has not yet finalized the new resource projections that will inform decisions on expenditure management. There are still no consolidated figures on the effective impact of the tax changes on 2026 revenue. The magnitude of the effects of the tariffs imposed by the President of the United States on Brazilian revenue also remains under analysis. Complete data on the distribution of interest on equity in February has not yet been compiled. The Brazilian Federal Revenue Service expects that the impact on revenue from interest on equity will be reflected in the March balance sheet. This will occur if there is a distribution in February. Regarding betting houses and... fintechs The new fee will begin in April. Collection is expected to occur in May, with the results to be reported in the balance sheet to be released in June. The budget review may result in budget freezes. This will happen if the forecasts for expenses and revenue are not in line with the fiscal target. The search for additional resources takes on special relevance in 2026. The President of the Republic, Luiz Inácio Lula da Silva (PT), is seeking re-election this year. Comment with Facebook Results of the CAIXA Lottery Mega-Sena lottery draw 2977: 08 - 19 - 27 - 32 - 38 - 52 Lottery draw 2978: Prize R$ 145 million Lotofácil contest 3623: 02 - 04 - 06 - 07 - 09 10 - 11 - 12 - 13 - 14 16 - 19 - 20 - 22 - 24 Contest 3624: Prize R$ 2 M Most read See also... Self-exclusion from betting accounts reaches 326 registered users and generates controversy over misuse of betting platform. Betting sponsorships fall in Serie A after regulation and tax increase. NGX participates in the SBC Summit Rio and reinforces its position as a leading platform in the Brazilian market. Single Software debuts as an exhibitor at SBC Summit Rio and reinforces its strategic positioning in the iGaming market. Super Technologies strengthens partnership with Sportradar to accelerate its global growth strategy. Check the results of the Loteca contest 1.235 games. Wesley Safadão attributes conflict with Gusttavo Lima to the creation of a betting company. Norwegian police are investigating two KFUM Oslo players for betting fraud. CRB announces Bolsa de Aposta as its new main sponsor. Northeast Cup: how to bet on this championship 

Government revises 2026 Budget after changes in taxation of betting and fintechs - BNLData

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