The Parliamentary Committee of Finance, Tax, and Customs Policy has published its final gambling tax bill. It will accompany the new gambling legislation of Ukraine. It passed last year.
The committee has made up various numbers of minor changes. These amendments and clarifications to the bill took place after reading the bill 2713- D for the second time. On its first reading, the committee came up with the introduction of a flat 10% of the tax rate. It is for all gambling verticals of Ukraine. It has removed a clause, which has tripled the license fees temporarily for a period up to a national monitoring system comes to the forefront.
These new changes include a clarification for the first licenses. Parimatch and Cosmolot have already paid a higher amount of license fees. They will get the amount they have overpaid for putting towards the future of fees renewal.
This bill is now ordering the National Bank of Ukraine to examine the maximum cash limits. These are based on land-oriented casinos for ensuring strong practices for anti-money laundering.
Another change will happen in the deals with the winning in the gambling. It will be allowing the casino and slot players to deduct all the losses from any of the winnings they are making in 24 hours. The winnings of more than UAH 480000 for a year will come under the taxation of 18%,
This bill will now receive another second reading by the parliament. It will review all the necessary clauses. This review will see if it may be passed and sent to President Volodymyr Zelensky for signing it as a law.
Now, it is all about the wait to see how much changes it will bring to improve the gambling market. It might have a significant impact on the users, gambling content creators, and other participants of the market. Also, it will be seen in their content creation and revenue making. At the same time, in the market expansion, it will become more impactful and visible.