Ukraine approves new tax bill at first reading
New legislation set to reduce tax for operators as 252 MPs vote in favour of bill
The Ukrainian parliament has supported the first reading of the new gambling tax bill as it looks to reduce taxes for operators.
Bill 2713-D was approved by 252 MPs in the Verkhovna Rada with 73 MPs voting against the bill. A further 15 MPs abstained from voting while 27 did not cast a vote on the matter.
The bill proposes new tax rates across separate verticals, along with an 18% basic income tax rate.
Online casinos will be taxed on gross gaming income at 10% and land-based casinos will be taxed at 12.5%.
Sports betting operators will be charged with a 5% tax and lottery operators at 10%.
Last year, when gambling was legalised in the eastern European nation, lawmakers said the industry should bring in $150m to $200m in tax revenue.
The bill also proposes to abolish the “unjustified” triple fee for licences with those operators who have already paid the triple payment to be credited at the expense of future annual licence fees.
Additionally, within the bill, the National Bank of Ukraine has been instructed to review the maximum amount of cash settlements individuals can claim in land-based casinos.