The City Hall of Sao Paulo wants to attract gaming, fantasy sports, lotteries and sports betting companies. Therefore, on December 30th, Law 17.875/2022 was published, which reduces the ISS (Tax on Services of Any Nature) to 2% for businesses that promote sports competitions or physical or intellectual dexterity – that is, Fantasy Sports .
Still aiming to develop entertainment activities, the rate for lottery services is reduced – including, therefore, sports betting houses that are consolidated in the city of Sao Paulo. The municipality’s goal with the reduction is to attract companies to the city in a sustainable way.
For the president of the Brazilian Association of Fantasy Sports (ABFS), Rafael Marchetti Marcondes, the measure is important for the consolidation and growth of the sector nationally and attraction for the city of Sao Paulo.
“Since when we looked for city representatives to demonstrate the particularities of Fantasy Sport and the relevance of this sector for the city, promoting jobs and direct income generation, they understood the potential. The publication of the law reinforces the commitment to advancing the agenda in the city and attracting investments to the entertainment and technology sectors,” said Marcondes.
The law published in December contemplates this decrease in the ISS for lottery activities, sports betting , sports competitions and fantasy games.