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Eastern Europe

Ukraine to Offer Lowest GGR Taxes in Europe

Published

4 years ago

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Reading Time: < 1 minute

 

The Ukrainian Parliament adopted at its first reading the draft law №2713-d “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on Taxation of Income for Gambling Operators”.

The bill is aimed at balancing royalties and the tax burden for the gambling market, which will help attract investment to Ukraine and fight the illegal market.

It is proposed to set the GGR tax in Ukraine for online casinos and Internet poker at 10% (now it is 30%), for land-based casinos and slot machines – 12.5%, for bookmaking – 5%, lotteries – 10%. In addition, operators will pay also income tax at a general rate of 18%.

The second reading of the draft law is planned for this autumn. The amendments will also provide for tax-free winnings up to 48 thousand UAH (about 1500EUR).

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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.

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