Legislation

Ukraine – UGC welcomes amendment to draft law

The Ukrainian Gambling Council has issued a statement welcoming the decision of Ukraine’s Verkhovna Rada Committee on Finance, Taxation and Customs Policy to refer draft law No. 2713-д for an additional first reading.

Key changes to the parameters of the draft law include the GGR rate, which will be 10 per cent for all types of gambling and for players,  only winnings that exceed eight minimum wages will be taxed. The National Bank of Ukraine has been asked by the Committee to revise the limits for cash transaction for individuals in land-based casinos, and most importantly, the triple licence fees for the respective gambling areas are terminated. The draft law also contains a crucial addition: the triple license fees already paid will be credited in the form of future annual license fees;

“We are convinced that the adoption of draft law No. 2713-д will help inflict even greater damage to the illegal segment, so that players stay away from illegal gambling halls, and the state has a chance to attract large investments from western countries,” stated Anton Kuchkhidze, Chairman of the Ukrainian Gambling Council. “The major global gambling actors are closely monitoring the solution of the tax issues faced by the gambling business in Ukraine.

“In view of the prompt consideration of the tax bill by the specialised committee, we hope that the first reading will take place in the coming plenary week,” added Mr. Kuchkhidze. “We take this opportunity to thank all those in government agencies for the systematic work on the legalisation and development of the gambling business in Ukraine.”