Ukrainian gambling taxes, almost ready to go

Three bills arrived in the Legislature to debate Ukrainian gambling taxes should the segment becomes legal in the near future.

Ukraine.- The industry is a major revenue generator and contributes to state coffers. However, some jurisdictions are missing out on it and may need to discuss legislation to fix that.

Ukrainian gambling taxes are one of the next things lawmakers will debate. There are three potential bills that would regulate the segment and establish tax rates.

One bill sets the tax rate for all gambling and lotteries at 25%. Another mixes a 7.5% GGR rate, 12.5% from iGaming and 22% from lotteries.

Gambling legalisation

Bill 2285-D one of six alternatives to the reforms submitted by the government’s in Parliament in October.

“The adoption of Bill 2285-D is the first step towards creating a fair and transparent gambling market. It will, in turn, attract investment and introduce new technology to the country,” Parimatch said, as iGB quoted.

“The market will create thousands of jobs, contribute to both state and local budgets, lead to an increase in tourism. It will also help to counter corruption in professional sports. Moreover, the increased tax revenues generated will provide much-needed funds to support culture, medicine, and sports in Ukraine.”

Ukraine’s gambling bill sets a €249.5k fee for online gambling, lower than any of the alternatives. It also includes a €1.5 million minimum licence fee for casinos in hotels with 200-250 rooms. For those with over 250, the fee goes up to €2.3 million.

“Deputies in Ukraine shoulder great responsibility when preparing the bill for its second reading, which must meet the highest international standards for legalizing the gambling industry,” Parimatch said.