Ukraine is ready to lower taxes for gambling companies

16 Jul 2021

ukraine-tax-reductionΤhe Verkhovna Rada, Ukraine’s unicameral parliament, saw 252 of its members voting in favor of the bill 2713-D, that intends to lower taxes for those organizing gambling and lotteries in the country. The bill is set to dismiss the agreed annual fee for online casinos at $200,000 and replace it with a set tax rate, which will be based on gross gaming revenue or income.

A 10% set tax rate will be on from the organizers of online poker games and online casinos. Ukrainian bookmakers will be taxed 5%, operators of slot machines and those who gamble in land-based casinos will be taxed at 12,5%; while a 10% tax will be deducted from those operating lotteries.

Even though winnings derived from gambling will be exempt from personal income tax and military tax; gambling organizers will be required to pay a basic income tax.

Last year, lawmakers underlined that the legalization of gambling should bring in $150m to $200m in tax revenue. So, the parliament legalized it. Despite this, Ukrainian lawmakers were warned recently by a Parliamentary committee to not reduce taxes.

More specifically, the Scientific and Expert Management Committee of the Ukraine Parliament supported that warning by saying that there was not enough evidence to justify a decrease in gambling tax. It also called for a policy that minimizes problem gambling and motivates operators to contribute to social programs that address the negative impact of gambling.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

1Xnews, the official portal of 1xBet, has announced an agreement with football club Goa of the Indian Super League. The deal is for the 2021/22 season...

Read more »

The Premier League’s football club Chelsea and its partner, the renowned bookmaker Parimatch, have launched their brand new campaign named ‘The Chosen...

Read more »

According to recent research, gambling-related companies are the most common form of shirt sponsors in European football for another year. Over one fi...

Read more »

Despite the new regulation in Germany and the Netherlands LeoVegas, the Nasdaq-listed group, announced a 12% increase of its total revenue in the Q3 t...

Read more »

After the new agreement that the Union of European Football Associations (UEFA) and Sportradar announced, the sports betting data provider will be an ...

Read more »

The government of Sweden announced that the harsh online gambling restrictions that include a SEK 5,000 (i.e. £424/€491/$600) monthly deposit cap will...

Read more »

Entain has created an exclusive content for Formula 1 fans and will cooperate with McLaren. Via its Partypoker Sports brand, the sports betting group ...

Read more »

The Gaming Control Authority, a part of the Ministry of Finance of Lithuania, announced that it issued a warning to every sports betting company opera...

Read more »

The English football club, Queens Park Rangers (QPR) made a new agreement for a sponsorship with Gamstop. From now on QPR will dedicate matchday and p...

Read more »

According to data from the regulatory authority of France L’Autorité Nationale des Jeux (ANJ) the online sports betting sector in the country made a r...

Read more »

LATEST BOOKMAKER PROMOTIONS