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Ukraine to reduce taxes for gambling business

Source : 112 Ukraine

Adopted by Ukraine's parliament bill proposes to set a single rate of income tax (gross gaming income) for the organization and realisation of gambling and lotteries
14:15, 15 July 2021

Open source

The Verkhovna Rada supported the bill #2713-d in the first reading; the document intends to reduce taxes for organizers of gambling and lotteries. 252 MPs voted for it.

The online broadcast of the plenary session can be viewed HERE.

The explanatory note to the bill states that no casino license, as agreed in the gambling law, is available in any country in the world.

"The agreed annual fee for online casinos ($ 200,000 per year) is one of the highest in Europe," the bill states.

Related: Ukrainian Parliament voted for Avakov's resignation from Ministry of Internal Affairs

The document proposes to set the tax rate on income (gross gaming income) received from the organization and realisation of online casinos and online poker games at 10%, for the organization and realisation of gambling in casinos and slot machines at 12.5%, for bookmaking at 5%, for issuing lotteries at 10%.

In addition, gambling organizers pay the basic income tax.

Along with this, winnings in gambling and lotteries will be exempt from personal income tax and military tax.

As it was reported earlier, on July 14, 2020 the Verkhovna Rada legalized gambling business in Ukraine. The law authors stated that they would collect from 150 to 200 million dollars annually from market participants by license fee and tax.

Related: Ukraine adopts law on corporate governance

 

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