The expert told about the nuances of taxation of gambling business in Ukraine

The head of the Ukrainian Gambling Association Anton Kuchukhidze in his interview shared information about the current status of the amendments to the Tax Code. He admitted that the deputies of the Verkhovna Rada have not yet considered the amendments to the relevant legislation proposed last autumn.

According to him, foreign companies that have already received the right to operate in the local jurisdiction from the Gambling and Lotteries Supervision Commission (KRAIL) have serious difficulties because of the unreasonably high prices of Ukrainian licenses.

To normalize the situation, the Finance Committee of the Verkhovna Rada of Ukraine still considered and adopted a document number 2713-d, according to which the state allowed to reduce the tax burden on representatives of gambling business.

However, after the submission of this bill to the deputies, the process of its ratification was suspended. Thus, a number of high-ranking officials openly opposed the reduction of tax rates for operators. In their opinion, such a policy of the authorities could cause serious damage to the state.

“The vote for this document should have taken place between March 30 and April 2. But the Rada went into quarantine. Accordingly, all the dates are again pushed back indefinitely. There are prerequisites for the adoption of the bill. All the nuances have long been agreed at the highest level. I also see no alternatives, so everything should end on a positive note,” Anton Kuchukhidze said.

The expert notes that such a policy of reducing the tax burden on gambling business has proven effective in a number of neighboring states where gambling has been legalized. Both the cost of gambling licenses and the amount of tax deductions remain high in Ukraine at the moment.

Recall that Ukraine received UAH 72 million for the first two land-based casino licenses.