Ukraine Finance Committee finalises gambling tax bill

A Ukrainian parliamentary committee has published the final version of the country’s long-awaited gambling tax bill, after making some minor changes.

The Committee on Finance, Tax and Customs Policy examined bill 2713-D for the second time, after amending it in May. The bill is set to complement the country’s Gambling Act, which became law almost a year ago, allowing for betting, online casino, slot halls and land-based casinos at hotels.

Having already made a number of changes to the bill, including replacing a system of different tax rates between 10% and 30% for different verticals with a single 10% tax rate, the additional amendments were more minor.

One change the committee made supplemented its earlier decision to remove a clause to temporarily triple licence fees until a nationwide monitoring system comes into effect. As some operators – such as early licensees Parimatch and Cosmolot – have already paid these higher licence fees, the amendment version of the bill clarifies that these extra payments will be counted against future renewal fees.

In addition, the law changed details regarding the country’s tax on gambling winnings. Winnings of more than UAH480,000 (£12,700/€14,900/$17,600) within a year may be taxed at 18%, but the committee’s amendments now mean that for casino and slot players, losses may now be deducted from winnings if they occur within the same 24 hour period.

The National Bank of Ukraine is also instructed to examine maximum cash limits for land-based casinos, in order to ensure robust anti-money laundering practices.

The bill is now set to receive a second reading, where it may be passed and sent to President Volodymyr Zelensky to become law.

Original Article