Last-Minute Tax Tips for Brazilian Bettors: Declare Your Winnings Before the Deadline!

Brazilians Scramble to File Income Tax Returns: The 2025 deadline is fast approaching, and many are unsure how to declare income from online betting. Tax expert Antonio Gil, a partner at EY, recently appeared on a live interview with g1 to provide clarity. Gil explained that profits from bets made in 2024 are subject to the 'Carne Leão' (monthly income tax) and must be declared accordingly. He stressed the importance of accurately reporting net profits rather than the total amount wagered. "For those who received any income from abroad," Gil stated, "this is foreign income subject to monthly tax called Carne Leão." The g1 interview provided a valuable public service, offering straightforward guidance during a stressful time for taxpayers.