Eastern Europe

Ukraine’s Finance Minister Says Legalisation of Gambling can Bring Profit through Taxation

Published

6 years ago

October 28, 2019

Niji Narayan

Ukraine’s Finance Minister Says Legalisation of Gambling can Bring Profit through Taxation

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Oksana Markarova, the Finance Minister of Ukraine, has said that the legalisation of gambling in Ukraine can bring an estimated Hr 5-9 billion into state coffers through taxation.

Markarova also said that a gambling law has been submitted to the Verkhovna Rada and that revenues from the legalisation of gambling in Ukraine can be included in the country’s 2020 draft state budget.

“According to our conservative estimates, this is Hr 5-9 billion of the resource, which can be fully mobilized if everything works,” Markarova said.

The new law on gambling was finalised and submitted to the Verkhovna Rada in October 2019. It aims to legalise the gambling business across Ukraine, create and implement an effective state policy in the field of gambling regulation, as well as ensure the protection of the rights and legitimate interests of citizens.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.