Topic: Gambling tax proposal in Ukraine - page 3. (Read 1060 times)
Those proposal might be good on bigger gambling operations, but not good for online platform. On my personal views here, we can only figure our certain aspects that totally be done for licenced operation. Conflict towards public is the reason why tax is implemented in serious basis, though with online betting I think charges will only applies for transaction fees.
Putting a tax on them is not a problem at all especially if their Government thinks that it will help their economy or their country in a way, as long as it won't be use on their Government officials personal use (hopefully), then it's all good. Most of the countries around the globe do put taxes on gambling platforms (casinos, and gambling sites).
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
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.The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
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?
I have seen a lot much higher percentage of tax in gambling from other countries. So yes, 10% is not that much, and they will not go bankrupt if they will pay that to their government. After all, during this pandemic, online gambling is one of the industries that really do survive. People are stuck at their homes and one way that they got into is online gambling. If they can afford to gamble, it means they have enough money to spend on this entertainment. And that gambling casino should not be so tight in sharing their income to the government.
Putting a tax on them is not a problem at all especially if their Government thinks that it will help their economy or their country in a way, as long as it won't be use on their Government officials personal use (hopefully), then it's all good. Most of the countries around the globe do put taxes on gambling platforms (casinos, and gambling sites).
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
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.The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
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?
Putting a tax on them is not a problem at all especially if their Government thinks that it will help their economy or their country in a way, as long as it won't be use on their Government officials personal use (hopefully), then it's all good. Most of the countries around the globe do put taxes on gambling platforms (casinos, and gambling sites).
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
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. The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
compared to other countries, the gambling tax in ukraine is still in very small limits compared to other countries which also legalize gambling, the ukraine government will only apply a final tax of around 10%, but this is still only a draft law and of course the relevant parliament will decide whether or not the new rules are good, the circulation of money that occurs in gambling is quite large, so that sometimes the government collects a slightly larger tax and of course the tax will also be used for the welfare the people and with this tax the continuity of gambling in the ukraina will be more guaranteed both for the players and for the existing casino in my opinion.
If those tax is only applicable for the casino, that will not be a problem for them since they can make a huge money from the gambler. But if that is apply to the gambler, then that will not useful because the gambler already payed the tax for their income or salary. It is normal if the government want to collects a larger tax from the casino reminds the casino can produce much money. If that a draft law can succeed to be applied to the casino, that can really help the country to survive in this pandemic. But the casino needs to show their income to the government before the law become legally. Putting a tax on them is not a problem at all especially if their Government thinks that it will help their economy or their country in a way, as long as it won't be use on their Government officials personal use (hopefully), then it's all good. Most of the countries around the globe do put taxes on gambling platforms (casinos, and gambling sites).
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
At this time of pandemic it really shows the significance of the gambling business in economy of one country I mean due to being locked down of the country, many business establishments were closed but online gambling is up which is hopefully the government could put a tax to those casino or gambling establishments operated during pandemic because the tax this gambling establishments is a big help on the chaos of econmy we faced right now. And I think a 10% amount of tax is not that too much.
In Ukraine it is not different and probably that is why citizens become easily angry over their politicians and their proposals to take more money from the population.
True true. But as i said before, 10 % tax is not too much by itself. But we can add taxes correct: 18 % tax for income + 10 % tax (about which we are talking about) + 20 % VAT (if you (casino owner) want to buy something from your gambling income) and in result we will get something like 48 % for your income money. From diagram above we can see that this is not the worst result (in France as i see taxes is like 83.5 %) but not the best to open your casino in Second world country.
It would be good to compare the level of people's income and pensions. I am sure that on the minimum pension of a citizen of France (about 800 euros) you can easily live in Ukraine. But on the pension of a Ukrainian in France clearly you can not live. Therefore, in my opinion it is not quite correct to compare taxes if the level of income of citizens differ by times.
Putting a tax on them is not a problem at all especially if their Government thinks that it will help their economy or their country in a way, as long as it won't be use on their Government officials personal use (hopefully), then it's all good. Most of the countries around the globe do put taxes on gambling platforms (casinos, and gambling sites).
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
The pandemic gave all of us a huge problem and one of them is that most of the economic sectors suffers in the sudden declination of sales, causing the economy to fall down, and that's where taxes are being use to support our economy.
The taxation is pretty reasonable for me and as OP said, it's fairly low compared to other countries out there although all taxes in gambling are pretty much justified since they still make a lot of money.
It is indeed better to impose higher tax than totally banning it. Because gambling will always be here, if they will ban it, people will just go underground, in which, they can't get their contribution. And also, their percentage of tax is still low as compared to other countries. So in my opinion, it is just right. We will see if their gambling industry will still thrive after this imposition of tax.
And yet some governments do not seem to see this, it seems they prefer to keep their archaic attitudes towards gambling, which is weird after all we are seeing some countries allowing their citizens to consume drugs that years before were forbidden and yet if you ask me it is way obvious that a drug is way more damaging than gambling especially when gambling has so many positive effects for the economy and yet the posture of many governments towards gambling does not seem as if it is going to change.It is just typical that all of government wouldnt really allow these illegal things to be tolerated and tell me on which part of the world on where drugs had been allowed? specially the illegal ones?
Its not just right on making out comparison between gambling addiction and drug addiction and of course you would really be seeing different take of government in talks to this.
In Ukraine it is not different and probably that is why citizens become easily angry over their politicians and their proposals to take more money from the population.
True true. But as i said before, 10 % tax is not too much by itself. But we can add taxes correct: 18 % tax for income + 10 % tax (about which we are talking about) + 20 % VAT (if you (casino owner) want to buy something from your gambling income) and in result we will get something like 48 % for your income money. From diagram above we can see that this is not the worst result (in France as i see taxes is like 83.5 %) but not the best to open your casino in Second world country.
I wonder how much money does a casino owner made to be taxed something like that. Maybe more than a million because the owner doesn't complain or they did complain but they may have some dirty tactics to avoid paying the correct taxes?
I think it's a way to discourage owning or having a casino on their place because they don't want to make their people suffering from addiction through gambling or did I miss something?
compared to other countries, the gambling tax in ukraine is still in very small limits compared to other countries which also legalize gambling, the ukraine government will only apply a final tax of around 10%, but this is still only a draft law and of course the relevant parliament will decide whether or not the new rules are good, the circulation of money that occurs in gambling is quite large, so that sometimes the government collects a slightly larger tax and of course the tax will also be used for the welfare the people and with this tax the continuity of gambling in the ukraina will be more guaranteed both for the players and for the existing casino in my opinion.
It is indeed better to impose higher tax than totally banning it. Because gambling will always be here, if they will ban it, people will just go underground, in which, they can't get their contribution. And also, their percentage of tax is still low as compared to other countries. So in my opinion, it is just right. We will see if their gambling industry will still thrive after this imposition of tax.
And yet some governments do not seem to see this, it seems they prefer to keep their archaic attitudes towards gambling, which is weird after all we are seeing some countries allowing their citizens to consume drugs that years before were forbidden and yet if you ask me it is way obvious that a drug is way more damaging than gambling especially when gambling has so many positive effects for the economy and yet the posture of many governments towards gambling does not seem as if it is going to change.It is just typical that all of government wouldnt really allow these illegal things to be tolerated and tell me on which part of the world on where drugs had been allowed? specially the illegal ones?
Its not just right on making out comparison between gambling addiction and drug addiction and of course you would really be seeing different take of government in talks to this.
It is indeed better to impose higher tax than totally banning it. Because gambling will always be here, if they will ban it, people will just go underground, in which, they can't get their contribution. And also, their percentage of tax is still low as compared to other countries. So in my opinion, it is just right. We will see if their gambling industry will still thrive after this imposition of tax.
And yet some governments do not seem to see this, it seems they prefer to keep their archaic attitudes towards gambling, which is weird after all we are seeing some countries allowing their citizens to consume drugs that years before were forbidden and yet if you ask me it is way obvious that a drug is way more damaging than gambling especially when gambling has so many positive effects for the economy and yet the posture of many governments towards gambling does not seem as if it is going to change. 
In Ukraine it is not different and probably that is why citizens become easily angry over their politicians and their proposals to take more money from the population.
True true. But as i said before, 10 % tax is not too much by itself. But we can add taxes correct: 18 % tax for income + 10 % tax (about which we are talking about) + 20 % VAT (if you (casino owner) want to buy something from your gambling income) and in result we will get something like 48 % for your income money. From diagram above we can see that this is not the worst result (in France as i see taxes is like 83.5 %) but not the best to open your casino in Second world country.
Nothing to be shocked and heck 10% is something reasonable compare into other states or countries which does have outrageous taxation percentage.
We cant tell on whats the reason on sudden change but with due common sense then its understandable that they would really be needing some add up
not only for sake of economy but also with that pandemic situation i presume.
Taxation is never been bad as long it would be handled out correctly. Bad news for those who do tempt to make a new business but actually its for the own good.
We cant tell on whats the reason on sudden change but with due common sense then its understandable that they would really be needing some add up
not only for sake of economy but also with that pandemic situation i presume.
Taxation is never been bad as long it would be handled out correctly. Bad news for those who do tempt to make a new business but actually its for the own good.
I do agree that 10% is considerably low as compared to other countries.
Just to get an idea where they are positioned at, in terms of gambling tax rate.
This article was only last year. So the rates may have not changed significantly as compared today.
As long as the government is putting those funds into good use, that would be fine.
https://www.casino.org/blog/comparing-gambling-taxes-around-the-world/
https://i.imgur.com/9To1b3a.png
Seems, this isn't the niche they want to develop. Btw Ukraine has very beautiful girls and it could be easy for them to make partnerships with Evolution or other b2b gaming service providers and open a massive number of studios. These kind of companies are really looking for beautiful girls, in Ukraine, they are a lot.
Nothing to be shocked and heck 10% is something reasonable compare into other states or countries which does have outrageous taxation percentage.
We cant tell on whats the reason on sudden change but with due common sense then its understandable that they would really be needing some add up
not only for sake of economy but also with that pandemic situation i presume.
Taxation is never been bad as long it would be handled out correctly. Bad news for those who do tempt to make a new business but actually its for the own good.
We cant tell on whats the reason on sudden change but with due common sense then its understandable that they would really be needing some add up
not only for sake of economy but also with that pandemic situation i presume.
Taxation is never been bad as long it would be handled out correctly. Bad news for those who do tempt to make a new business but actually its for the own good.
I do agree that 10% is considerably low as compared to other countries.
Just to get an idea where they are positioned at, in terms of gambling tax rate.
This article was only last year. So the rates may have not changed significantly as compared today.
As long as the government is putting those funds into good use, that would be fine.
https://www.casino.org/blog/comparing-gambling-taxes-around-the-world/
Seems, this isn't the niche they want to develop. Btw Ukraine has very beautiful girls and it could be easy for them to make partnerships with Evolution or other b2b gaming service providers and open a massive number of studios. These kind of companies are really looking for beautiful girls, in Ukraine, they are a lot.
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% . For the government a 10% tax proposal is honestly low. But according to the experts this might reduce the consumption.
10% maybe not a high tax rate compared to some other countries with very high tax rates. So far, 10% becomes in the middle of the good choice and includes into the small tax country give to gambling. We can see other countries rate taxes here:
https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world
And some countries also differentiate the tax rate between online and offline taxes.
Well, if the tax rate becomes the best solution to press the gambling, just follow. It is relief that gambling is legal in that country that should involve the tax. In my country, it is still forbiden.
It is indeed better to impose higher tax than totally banning it. Because gambling will always be here, if they will ban it, people will just go underground, in which, they can't get their contribution. And also, their percentage of tax is still low as compared to other countries. So in my opinion, it is just right. We will see if their gambling industry will still thrive after this imposition of tax.
I don't know why the 10% tax rate can seem huge to anyone if other taxes are higher and in Ukraine, people pay around 45% of their money in taxes if everything is considered (for example, there's a 20% VAT on any food you purchase in a supermarket, so the 45% figure takes it into account). But Ukraine just recently passed a gambling law, so I don't think that a new and significantly different one will be adopted any time soon. Oh, and when I googled it in Ukrainian, the news on the 10% tax rate are all from the beginning of March, so I'm not even sure the news is relevant anymore.
If in March, than everything still very relevant. Because this is proposal, after that they will create a law and parliament needs to vote for it. Or as i see, law is already created but needs to be accepted by government. So we will see in the near future.
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% . For the government a 10% tax proposal is honestly low. But according to the experts this might reduce the consumption.
10% maybe not a high tax rate compared to some other countries with very high tax rates. So far, 10% becomes in the middle of the good choice and includes into the small tax country give to gambling. We can see other countries rate taxes here:
https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world
And some countries also differentiate the tax rate between online and offline taxes.
Well, if the tax rate becomes the best solution to press the gambling, just follow. It is relief that gambling is legal in that country that should involve the tax. In my country, it is still forbiden.
It is indeed better to impose higher tax than totally banning it. Because gambling will always be here, if they will ban it, people will just go underground, in which, they can't get their contribution. And also, their percentage of tax is still low as compared to other countries. So in my opinion, it is just right. We will see if their gambling industry will still thrive after this imposition of tax.
Jump to: