The House of Representatives on Tuesday (11/11) approved a bill that would exempt prize money received by Brazilian athletes from international competitions, such as the Olympics, Paralympics, World Championships and other official tournaments, from income tax (IR). The document now goes to the Senate.
The project was reported by Deputy Eunício Oliveira (MDB-CE). The original proposal was by Deputy Nicolas Ferreira (PL-MG) and was submitted in August 2024 during the Olympic Games in Paris, France.
Nicolas proposed the project after news broke that Olympic gymnast Rebecca Andrade, who won four medals at the Paris Olympics, would be subject to high taxes.
All prize money paid by the Brazilian Olympic Committee (COB) and the Brazilian Paralympic Committee (CPB) exceeds R$55,976.16 (year-to-date), so the tax rate applied to the amounts received by athletes will be 27.5%.
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In response, the government of President Luiz Inácio Lula da Silva (PT) announced a temporary measure (MP) to exempt athletes’ prize money from income tax in conjunction with the Olympic Games.
The article was in force from August to November 2024, but lost its effect before becoming law. Congress chose not to approve the federal government’s proposal, viewing it as political opportunism.
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