Pages:
Author

Topic: Gambling tax proposal in Ukraine - page 2. (Read 997 times)

legendary
Activity: 1456
Merit: 5874
light_warrior ... 🕯️
July 09, 2021, 03:32:58 PM
If you do think that 10% is a huge amount I do think you have to read the full article where they state that for them it was a sum between 10-30% .
As noted above, only a very simple and transparent law will work, since the Ukrainian political system has long since rotted away, a system that is only meant to replenish the already fat pockets of oligarchs. There are really a lot of bookmakers in Ukraine, and I think probably even more than in England, but the highlight is that no matter what tax you set, the Ukrainian Tax Service has absolutely no resources to keep at least most of the bookmakers in check ...
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
July 09, 2021, 03:14:49 PM
Yeah, imagine how cool it must have been to operate a grey/illegal casino and then you get the news that gambling is being legalized. Others will have to set up everything while these illegal ones have things ready lol. I guess most countries will follow on taxation on gambling as governments started realizing the potential revenue they could gain out of making gambling legal rather than being unable to control all gambling activities when gambling is not being run with the support of law.
In fact it is not as obvious as you are making it seem, many illegal casinos may choose to remain that way as they will not have to follow any guideline regarding the fairness of their games or the security of their clients and even more importantly they may not like to pay the tax, in fact this is similar to what we see with prostitution, in the countries in which it has been made legal many people still refuse to do it legally as they will be taxed and they will have to reveal their status as prostitutes, which has a huge stigma no matter where you live.
legendary
Activity: 2422
Merit: 1834
Crypto for the Crypto Throne!
July 08, 2021, 04:02:08 PM
Yeah, imagine how cool it must have been to operate a grey/illegal casino and then you get the news that gambling is being legalized.

In Ukraine you just keep running your illegal casino, because the process of legalization is much more complicated than just keep everything as is. Not joke, real situation.

Others will have to set up everything while these illegal ones have things ready lol.

Yep. And this people, which running illegal casinos will open new, legal ones in hotels and special places. And still running their illegal counterparts.

hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
July 05, 2021, 04:20:28 PM
Many gamblers stop playing because of the high tax rate because not everyone can afford it. Ukrainian president vladimir zelensky plans to legalize gambling in the country for which he has raised taxes I think that by increasing the amount of bonus for playing jaya gamblers will be able to play very easily. Enforcement officials follow violators without much encouragement and often cooperate with them and the state simply proposes a gambling tax in ukraine without losing any tax fees.
The issue they are not considering is that while traditional casinos are still a thing now online casinos are way more popular thanks to the pandemic, they are cheaper to run and can offer better bonuses to their clients which means that the owner of the casino can establish his casino in any jurisdiction that he may like in which this is easy and the taxes are low and still attract those local players and they can avoid paying those taxes that way, so despite the taxes being low at the same time it is doubtful how many online casinos will actually pay them.
hero member
Activity: 2492
Merit: 586
July 04, 2021, 01:30:50 PM
Many gamblers stop playing because of the high tax rate because not everyone can afford it. Ukrainian president vladimir zelensky plans to legalize gambling in the country for which he has raised taxes I think that by increasing the amount of bonus for playing jaya gamblers will be able to play very easily. Enforcement officials follow violators without much encouragement and often cooperate with them and the state simply proposes a gambling tax in ukraine without losing any tax fees.

Lol. Gambling is already legalized, you're a little bit late with your news  Cheesy
Casino can be opened at any big hotel in special underground area, or in special places. And i know that some hotels already legalized their grey casinos.
Yeah, imagine how cool it must have been to operate a grey/illegal casino and then you get the news that gambling is being legalized. Others will have to set up everything while these illegal ones have things ready lol. I guess most countries will follow on taxation on gambling as governments started realizing the potential revenue they could gain out of making gambling legal rather than being unable to control all gambling activities when gambling is not being run with the support of law.
legendary
Activity: 2058
Merit: 1166
July 03, 2021, 05:50:15 PM
Many gamblers stop playing because of the high tax rate because not everyone can afford it. Ukrainian president vladimir zelensky plans to legalize gambling in the country for which he has raised taxes I think that by increasing the amount of bonus for playing jaya gamblers will be able to play very easily. Enforcement officials follow violators without much encouragement and often cooperate with them and the state simply proposes a gambling tax in ukraine without losing any tax fees.
Not sure about the legal status of gambling in Ukraine but I think it is a good step if the president of Ukraine is planning to legalize gambling because people will otherwise gambling illegally and makes no sense for the government to ban gambling when there are ways people can still do it. I am not of the opinion that gambling is a great thing because it makes people lazy but still, people should be able to spend their money the way they wish. A 10% tax sounds reasonable to me because around that is what most of the other countries have if I am not wrong.

https://cms.law/en/int/expert-guides/cms-expert-guide-to-gambling-laws-in-cee/ukraine

On a first view it doesn't seem to be as bad but not as good either. Gambling is allowed and yes there is a structure for the being different for certain activities. The companies operating casinos pay 28% in total, consisting of 18% corporate tax and 10% gambling tax. But they are also responsible to withhold and remit that money players owe as taxes. A lot of administration because there is also another rule:

"the taxation of players: winnings up to eight times the minimum monthly salary (currently UAH 48,000 (ca. EUR 1,400)) exempted from tax, beyond which there is 18% PIT + 1.5% military levy."

hero member
Activity: 2464
Merit: 585
July 03, 2021, 04:19:30 PM
Many gamblers stop playing because of the high tax rate because not everyone can afford it. Ukrainian president vladimir zelensky plans to legalize gambling in the country for which he has raised taxes I think that by increasing the amount of bonus for playing jaya gamblers will be able to play very easily. Enforcement officials follow violators without much encouragement and often cooperate with them and the state simply proposes a gambling tax in ukraine without losing any tax fees.
Not sure about the legal status of gambling in Ukraine but I think it is a good step if the president of Ukraine is planning to legalize gambling because people will otherwise gambling illegally and makes no sense for the government to ban gambling when there are ways people can still do it. I am not of the opinion that gambling is a great thing because it makes people lazy but still, people should be able to spend their money the way they wish. A 10% tax sounds reasonable to me because around that is what most of the other countries have if I am not wrong.
legendary
Activity: 2422
Merit: 1834
Crypto for the Crypto Throne!
July 02, 2021, 05:48:44 PM
Many gamblers stop playing because of the high tax rate because not everyone can afford it. Ukrainian president vladimir zelensky plans to legalize gambling in the country for which he has raised taxes I think that by increasing the amount of bonus for playing jaya gamblers will be able to play very easily. Enforcement officials follow violators without much encouragement and often cooperate with them and the state simply proposes a gambling tax in ukraine without losing any tax fees.

Lol. Gambling is already legalized, you're a little bit late with your news  Cheesy
Casino can be opened at any big hotel in special underground area, or in special places. And i know that some hotels already legalized their grey casinos.
legendary
Activity: 2226
Merit: 1086
Free Bitcoins Every Hour!
July 02, 2021, 05:31:32 PM
But we have to accept it, because gambling sites do this in order to survive in a gambling industry that has many competitors.
Sure. We should accept it. We know that increasing the deposit & withdrawal fees is the ultimate way made by the gambling sites. The owners also don't want to increase transaction fees if they have no taxes issue. Also, if they can choose another way, I am sure they probably consider not increase the fees as it can decrease the interest of gamblers to play.

I am sure that gambling sites increase transaction fees not too high, they will also think about fees that gamblers can still accept.
I agree with you, the owners must consider a proper and acceptable increase for the gamblers. If the increase is too high, the gamblers may not come again to the gambling sites. There are too many gambling sites in the world, the gamblers will choose the gambling sites that provide the most affordable transaction fees.

sr. member
Activity: 1414
Merit: 326
July 01, 2021, 11:48:04 PM
Many gamblers stop playing because of the high tax rate because not everyone can afford it. Ukrainian president vladimir zelensky plans to legalize gambling in the country for which he has raised taxes I think that by increasing the amount of bonus for playing jaya gamblers will be able to play very easily. Enforcement officials follow violators without much encouragement and often cooperate with them and the state simply proposes a gambling tax in ukraine without losing any tax fees.
sr. member
Activity: 2618
Merit: 439
July 01, 2021, 11:33:31 PM
If the taxes are expensive, but the services you have access in retribution are decent I think there is nothing wrong in paying more.
It is not only about decent or pleasing service now, it may not even be pleasing service if the tax collected from winners/punters is too high, what makes a service pleasing is the net gain after winning and also about the intrinsic services provided. If no kyc crypto gambling sites are also decent and pleasing, many people can leave the high tax gambling sites to no kyc crypto ones that do not demand for tax.
I don't know why some people are worried about tax on gambling sites, isn't it taxes are for casinos only and not on the gamblers. I mean, they are the ones who are making money, most gamblers are spending money just to be entertained, so we don't pay taxes on entertainment, I think that makes sense, right?
you don't understand what you are saying here mate .. because yes the Taxation will only be charge from the site but do you know where will be the site owners will get this taxes?
of course this will drops down to the players , meaning the house edge might increase silently that the gamblers don't even anticipate or in some other ways that operator only knew.
legendary
Activity: 2226
Merit: 1086
Free Bitcoins Every Hour!
July 01, 2021, 07:53:51 PM
I don't know why some people are worried about tax on gambling sites, isn't it taxes are for casinos only and not on the gamblers.
Since the gambling sites must spend more money for the taxes, some people probably feel afraid that many casinos will apply higher transaction fees on the gambling sites. The owners of gambling sites may consider increasing the deposit and withdrawal fees. This way is a reasonable solution to balance the income and expenses of the gambling sites. If this really happens, the gamblers must spend more money to gamble.
hero member
Activity: 2912
Merit: 674
July 01, 2021, 05:44:53 PM
I don't know why some people are worried about tax on gambling sites, isn't it taxes are for casinos only and not on the gamblers. I mean, they are the ones who are making money, most gamblers are spending money just to be entertained, so we don't pay taxes on entertainment, I think that makes sense, right?
I do not know what you meant by this, but you either meant that only gambling companies will pay tax? Or most gamblers would have lost while losses will first be deducted before paying tax? Yes about this second one. But taxes in gambling industry depends on the governmental laws and policies towards gambling, there are some countries that only the gambling companies that provide gambling services will only be the ones to pay while punters will not pay any tax irrespective of any gain they made, but there are countries in which the punters will have to pay tax of any net gain, which means if the gamblers is losing already, he will not have to pay until he gained back all his losses.

Yes, I meant the gambling sites will be the only ones who will pay taxes and let the gamblers enjoy their winning, and eventually they will still lose it when they come back. it's also easier to track the performance of the casino than the gamblers, and since casinos are profitable, they should only be the one who will pay, this way it will attract gamblers to gamble as they are getting real entertainment without tax liability.
sr. member
Activity: 2226
Merit: 347
July 01, 2021, 05:37:45 PM
#99
Even if the pandemic affected negatively many industries there were many that saw a huge spike in the demand, and one of them was the gambling industry, with the lockdowns that we suffered all around the world people needed not only a way to entertain themselves but also a way to find some excitement in their lives and gambling gave that excitement to some of those people, something that was no small feat because as we know even if it seems the pandemic is finally being put under control a great deal of psychological issues were created because people were not ready to face social isolation for such a long period of time.

There's a demand for basic needs and entertainment as well, and since we are afraid to go out because of the virus, we prefer to get that entertainment at home and online gambling is one of the biggest tools that give us that entertainment. It's just also correct that the government would be able to benefit from it, increase the taxes to increase their revenue as the economy has been struggling due to covid-19.

10% is not that huge, why not give it to the government?
And I agree with you a 10% tax is reasonable and in fact where I live the tax is way higher, casinos in my country will do anything to get such a low tax placed on them unfortunately this is not possible, and when we take into account the difficult situation that countries are in because of the pandemic then it makes sense they want to raise the taxes, now this is unpopular everywhere but to me is way better that countries raise taxes than the alternative which is that they print more money.
Alteration of percentage would vary on each government because not all government would have the same decision when it comes to this and 10% is just really reasonable even here on my
country they do impose 12% when it comes to tax but i dont know if other businesses or industries would have been implementing on the same level or way more higher and since im not really
that keen on checking out those information then it might be just the same or higher or something like that. Thing here is that taxation would really turn out to be a default thing because
this is the blood of the economy on a certain country or place and its just impossible for businesses on having no tax at all.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
July 01, 2021, 04:03:20 PM
#98
Even if the pandemic affected negatively many industries there were many that saw a huge spike in the demand, and one of them was the gambling industry, with the lockdowns that we suffered all around the world people needed not only a way to entertain themselves but also a way to find some excitement in their lives and gambling gave that excitement to some of those people, something that was no small feat because as we know even if it seems the pandemic is finally being put under control a great deal of psychological issues were created because people were not ready to face social isolation for such a long period of time.

There's a demand for basic needs and entertainment as well, and since we are afraid to go out because of the virus, we prefer to get that entertainment at home and online gambling is one of the biggest tools that give us that entertainment. It's just also correct that the government would be able to benefit from it, increase the taxes to increase their revenue as the economy has been struggling due to covid-19.

10% is not that huge, why not give it to the government?
And I agree with you a 10% tax is reasonable and in fact where I live the tax is way higher, casinos in my country will do anything to get such a low tax placed on them unfortunately this is not possible, and when we take into account the difficult situation that countries are in because of the pandemic then it makes sense they want to raise the taxes, now this is unpopular everywhere but to me is way better that countries raise taxes than the alternative which is that they print more money.
hero member
Activity: 2562
Merit: 659
Dimon6969
June 28, 2021, 03:52:24 PM
#97
If the taxes are expensive, but the services you have access in retribution are decent I think there is nothing wrong in paying more.
It is not only about decent or pleasing service now, it mnot even be pleasing service if the tax collected from winners/punters is too high, what makes a service pleasing is the net gain after winning and also about the intrinsic services provided. If no kyc crypto gambling sites are also decent and pleasing, many people can leave the high tax gambling sites to no kyc crypto ones that do not demand for tax.
I don't know why some people are worried about tax on gambling sites, isn't it taxes are for casinos only and not on the gamblers. I mean, they are the ones who are making money, most gamblers are spending money just to be entertained, so we don't pay taxes on entertainment, I think that makes sense, right?
Know that they will for sure to allot those taxes in their new gees or prices since its a additional operating cost. The casino will sure to be tax but where they will get the payment? Probably to their users that they can charge thru their players or thru requiring some minimum value in playing to take care of the fees including tax sin e all online activities were banked now.
legendary
Activity: 1414
Merit: 1118
...gambling responsibly. Do not be addicted.
June 28, 2021, 10:45:50 AM
#96
I don't know why some people are worried about tax on gambling sites, isn't it taxes are for casinos only and not on the gamblers. I mean, they are the ones who are making money, most gamblers are spending money just to be entertained, so we don't pay taxes on entertainment, I think that makes sense, right?
I do not know what you meant by this, but you either meant that only gambling companies will pay tax? Or most gamblers would have lost while losses will first be deducted before paying tax? Yes about this second one. But taxes in gambling industry depends on the governmental laws and policies towards gambling, there are some countries that only the gambling companies that provide gambling services will only be the ones to pay while punters will not pay any tax irrespective of any gain they made, but there are countries in which the punters will have to pay tax of any net gain, which means if the gamblers is losing already, he will not have to pay until he gained back all his losses.
hero member
Activity: 2912
Merit: 674
June 28, 2021, 09:28:10 AM
#95
If the taxes are expensive, but the services you have access in retribution are decent I think there is nothing wrong in paying more.
It is not only about decent or pleasing service now, it may not even be pleasing service if the tax collected from winners/punters is too high, what makes a service pleasing is the net gain after winning and also about the intrinsic services provided. If no kyc crypto gambling sites are also decent and pleasing, many people can leave the high tax gambling sites to no kyc crypto ones that do not demand for tax.
I don't know why some people are worried about tax on gambling sites, isn't it taxes are for casinos only and not on the gamblers. I mean, they are the ones who are making money, most gamblers are spending money just to be entertained, so we don't pay taxes on entertainment, I think that makes sense, right?
legendary
Activity: 1414
Merit: 1118
...gambling responsibly. Do not be addicted.
June 28, 2021, 04:33:25 AM
#94
If the taxes are expensive, but the services you have access in retribution are decent I think there is nothing wrong in paying more.
It is not only about decent or pleasing service now, it may not even be pleasing service if the tax collected from winners/punters is too high, what makes a service pleasing is the net gain after winning and also about the intrinsic services provided. If no kyc crypto gambling sites are also decent and pleasing, many people can leave the high tax gambling sites to no kyc crypto ones that do not demand for tax.
STT
legendary
Activity: 3878
Merit: 1411
Leading Crypto Sports Betting & Casino Platform
June 26, 2021, 07:58:02 PM
#93
10% taken from just profits might be ok but 10% taken out of revenue would be possibly a reason for that business to close and lose considerably to competitors.  It depends how its administrated, far better if they take a low amount of 1% but allow gambling to raise its revenues by 10x the amount thereby resulting in the same net contribution to the governments fiscal budget.   Also I'd mention regularity, overly harsh taxation will lead to short term gains but the tax will fall year on year as its not possible to continue, there is no option of right or wrong here just governments must be sensible in recognizing the world of betting is global and their populations are not captive in their spending habits.  
   Quite a few governments only work well for a few years because they are unable to foster growth in their economies, the biggest reason is very often interference with free commerce.
Pages:
Jump to: