Ukraine imposes new 10% tax rate on gambling

Ukraine imposes new 10% tax rate on gambling

Added:
Posted by: AffPapa

Ukraine has announced a new tax rate on gambling set at a flat rate of 10% on all types of gambling. The approval of the new rate follows on from a gambling tax bill that was already approved not long ago and is set to take effect soon.

Committee Chair Oleg Murasyak was the one to initially put forward the bill, Bill 2713-d. He had originally hoped that the bill would work well with the Gambling Act that came into effect back in August of 2020. The bill states that 5% GGR tax is set to be imposed on bookmaking, as well as a 10% tax rate on lotteries and online gambling. Slot machines were also set to receive a 12.5% tax rate.

After much debate and discussion though, it was ultimately decided that there would be one rate applied on all verticals in the country. Aside from this, there will also be an 18% general corporate tax rate that operators in the country will have to pay. The new tax rules don’t solely affect operators in Ukraine though, seeing as all new laws will be applied to the players who end up winning 8+ months worth of minimum wage. These wins will be classed as income and will be taxed, which in turn means players should pay attention to how they utilize the products.

Rada has not yet approved this bill, but it is still set to come into effect sooner rather than later. Up until now, both affiliates and players, as well as operators in the country, should remain aware and conscious of their action plans for whenever tax paying time rolls around.

  • PlayUp fantasy & sportsbook operator enters New Jersey
  • TheScore is acquired by Penn National for 2 billion dollars