Gambling tax proposal in Ukraine - page 4.

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the government decided that it's a good cash cow to sustain the government's financial need

Its not a one off, any country has a benefit from this industry and similar that are counter cyclical which means they dont especially reduce in revenue during a recession which is important to government fiscal budget balance. It adds stability basically, quite ironic but gambling revenue helps a country stay more stable through swings in the economy because bet revenue stays so frequent and regular.
Any tax has to be quite light to allow operations to stay competitive vs the wider alternatives globally because no country can afford to cut itself off from the world now and be better off.

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Quote from: Rengga Jati on June 10, 2021, 06:32:24 PM

Quote from: fiulpro on June 07, 2021, 12:01:33 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% . 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 way better to regulate and get some taxes out of an activity like gambling than to forbid it completely, after all this is not going to stop people to still gamble, because as we know there are many casinos online that allows you to gamble with cryptocurrencies and they cannot block every single site on the Internet, by forbidding gambling they are denying themselves the possibility to obtain some money out of it, generate jobs and to keep that money circulating in the economy.

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Quote from: Mahanton on June 12, 2021, 11:51:50 AM

Quote from: suzanne5223 on June 12, 2021, 11:28:00 AM

If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

Wont really be that implemented on such changes if it wont really be beneficial for the country specially that we hitted up badly be the pandemic then its just understandable tbat government would really be needing more revenue on at least making the economy able to sustain or rise up.
10% isnt really that much and i dont know on why people been complaining about it which its just normal that government would be finding out some
solutions at least and as long there wont be corruption would really be involved then this would really be a good initiative.

I also don't see the 10% to be much cause every government around the world are looking for means of funds to maintain their country economy but in spite that it normal to still see some people that will complain about the issue cause their thought is that the government are not fair to them.

Quote from: Vaskiy on June 12, 2021, 12:02:00 PM

Quote from: suzanne5223 on June 12, 2021, 11:28:00 AM

If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

Taxation on the winning profit above $1750 is really a good move, but how can this be made effective with the online gambling platforms. Most of the countries were not into cryptocurrency adoption for this reason. They have made taxes for cryptocurrency associated activities, but they weren't able to calculate and collect taxes. The initiative is good, but how effective this gonna executed?

I don't know how effective this move will be but what I read is that the Ukraine government does not recognize crypto and still it is not illegal. If they make move to tax crypto related casino it mean they will support crypto currency soon.

Quote from: madnessteat on June 12, 2021, 12:03:14 PM

Quote from: suzanne5223 on June 12, 2021, 11:28:00 AM

If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

I absolutely agree with you, but only if we were talking about another country, for example the United States, England, France where citizens are sure that every dollar from taxes is really spent on solving some problems, but not Ukraine, where taxpayers' money goes into the pockets of corrupt officials.

You make a point but not paying the tax is not an option for gamblers in Ukraine cause the government only has business with the booker/casino to deliver the appropriate tax fund, not their users.

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Quote from: kryptqnick on June 12, 2021, 12:26:16 PM

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.

^ Probably, until now and it was written it here, https://en.wikipedia.org/wiki/Taxation_in_Ukraine.
It is 0%-10% approximately on that range and it seems this tax proposal will climb up when the supply is out. Probably they saw that cryptocurrency has a proposal that they will never think of. Back to the topic, I think that is a fair enough individual task no to do again.

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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.

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Quote from: suzanne5223 on June 12, 2021, 11:28:00 AM

If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

I absolutely agree with you, but only if we were talking about another country, for example the United States, England, France where citizens are sure that every dollar from taxes is really spent on solving some problems, but not Ukraine, where taxpayers' money goes into the pockets of corrupt officials.

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Quote from: suzanne5223 on June 12, 2021, 11:28:00 AM

If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

Taxation on the winning profit above $1750 is really a good move, but how can this be made effective with the online gambling platforms. Most of the countries were not into cryptocurrency adoption for this reason. They have made taxes for cryptocurrency associated activities, but they weren't able to calculate and collect taxes. The initiative is good, but how effective this gonna executed?

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Quote from: suzanne5223 on June 12, 2021, 11:28:00 AM

If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

Wont really be that implemented on such changes if it wont really be beneficial for the country specially that we hitted up badly be the pandemic then its just understandable tbat government would really be needing more revenue on at least making the economy able to sustain or rise up.
10% isnt really that much and i dont know on why people been complaining about it which its just normal that government would be finding out some
solutions at least and as long there wont be corruption would really be involved then this would really be a good initiative.

suzanne5223

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If we are to calculate the level of problem and economic meltdowns cause through the pandemic, I don't see anything bad you the new tax proposal wrung by the Ukraine government because the tax will also move the country forward and i support the taxation of any winning that's above $1,750.

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Quote from: just_Alice on June 12, 2021, 09:59:42 AM

Quote from: YuginKadoya on June 11, 2021, 06:07:08 AM

In my opinion, it should be 30% I do consider that it may affect some small or just starting gambling casino's in Ukraine but we are in the midst of a pandemic and instead of just focusing on the needs people tend to face on their wants that they don't usually need, and gambling is something that they surely hold on in times if they want instant money, some just consider this as having fun, I really think this is a fair idea that the government should implement, and by doing so I guess some people will now avoid gambling but I think people with stable financial status would just consider this as OK.

This won't stop people from gambling, as the tax on winnings was canceled. So the new law only affects the owners, and considering other additional taxes they have to pay, the pressure is pretty big. If the government wants the gambling business to develop in order to recover the economy after the pandemic - they ought to be more supportive, at least at the beginning. Or else, no one will want to deal with this, it's way too risky.

The best tax system is to only charge the gambling operators and make it tax-free for the gamblers.

In general, gamblers lose money while casinos are profitable as they have the house edge, so tax should be charged to those who are making a profit.
Actually, it should not be complicated to understand, a gambler winning does not mean he is in profit as profit is computer based on the overall flow of cash and most overall, gamblers are in a net loss.

Gamblers to pay taxes will not make a casino attractive and in the end, the government would not be able to maximize their tax revenue from gambling business.

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Quote from: YuginKadoya on June 11, 2021, 06:07:08 AM

In my opinion, it should be 30% I do consider that it may affect some small or just starting gambling casino's in Ukraine but we are in the midst of a pandemic and instead of just focusing on the needs people tend to face on their wants that they don't usually need, and gambling is something that they surely hold on in times if they want instant money, some just consider this as having fun, I really think this is a fair idea that the government should implement, and by doing so I guess some people will now avoid gambling but I think people with stable financial status would just consider this as OK.

This won't stop people from gambling, as the tax on winnings was canceled. So the new law only affects the owners, and considering other additional taxes they have to pay, the pressure is pretty big. If the government wants the gambling business to develop in order to recover the economy after the pandemic - they ought to be more supportive, at least at the beginning. Or else, no one will want to deal with this, it's way too risky.

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Quote from: TimeTeller on June 07, 2021, 03:35:12 PM

Quote from: dunfida on June 07, 2021, 02:20:43 PM

...

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.

...

btw, from this picture, the gambling tax imposed on the citizens of Francis is really crazy...

10% gambling tax for me is not so high when compared to the facilities and profits that can be obtained. here in my country, we have not been taxed on gambling because gambling is illegal here, maybe if our country legalizes gambling and imposes a 10% tax on gambling then I will definitely accept it.

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Quote from: Ryker1 on June 11, 2021, 04:44:26 PM

Well, on my own --that is not a huge amount, 10% is just a normal percentage that gives as a tax to most gambling companies. There are too many gambling companies that give more than 30% or even 40% tax rates. Considering gambling businessmen in Ukraine are lucky enough of this proposal, they had a great advantage if we compared by other countries. Each country has a different tax rate, there are high tax rates like Germany and UAE also opposite that has the lowest rates. So it matters which country you are in.

Guys, read my article above: They are talking about 2nd tax. We have first tax which is 18 % of your profit. So, total tax with 10 % will be like 28 % on casino profit. This is not a small amount, but for gambling it will fit the best (because gambling is a business with small investment and small operational cost)

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Quote from: fiulpro on June 07, 2021, 12:01:33 PM

^[snip]
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.

Well, on my own --that is not a huge amount, 10% is just a normal percentage that gives as a tax to most gambling companies. There are too many gambling companies that give more than 30% or even 40% tax rates. Considering gambling businessmen in Ukraine are lucky enough of this proposal, they had a great advantage if we compared by other countries. Each country has a different tax rate, there are high tax rates like Germany and UAE also opposite that has the lowest rates. So it matters which country you are in.

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Quote from: fiulpro on June 07, 2021, 12:01:33 PM

The have been a tax proposal recently announced which according to the officials will impact the overall situation of Ukraine. Few things to consider here :

Quote

The Scientific and Expert Management Committee of the Parliament argued the latest tax proposal on gambling would impact budgetsThe proposal set a flat 10% tax rate for all gambling verticals and removes plans for license fees hikeThe committee outlined a number of factors influencing gambling tax rate policy and not justifying reducing the tax burden on operators

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.

The companies might soon find them in a bind. The license fee is also supposed to hike which will cause probelms for the new companies. For the already established one's it might be a bad news nothing else but the government will soon see lower people interested in establishing their own companies. I do think the government is trying to compensate for covid and at the same time there are some probelms with Russia right now therefore they are trying to play safe and earn some money.

Oh lol, I'm from Ukraine and here such business will be controled by the "right" people (in meaning, that this will be policemen or affiliated with government). So here is no much we can discuss

But, here is full taxation: "Ha cьoгoднi в Укpaїнi гpaльний бiзнec oпoдaткoвyєтьcя зa тpьoмa нaпpямкaми. Пo-пepшe, opгaнiзaтopи aзapтниx iгop плaтять пoдaтoк нa пpибyтoк пiдпpиємcтв (ПнПП) y poзмipi 18% – як i iншi cyб’єкти гocпoдapювaння. Пo-дpyгe, дoдaткoвo дo ПнПП, вoни плaтять пoдaтoк нa дoxiд вiд гpaльнoгo бiзнecy (див. Bинocкa 2). Пo-тpeтє, тoй, xтo oтpимaв вигpaш, тaкoж плaтить пoдaтoк нa дoxoди вiд вигpaшiв тa пpизiв, i cтaвкa цьoгo пoдaткy дopiвнює cтaвцi пoдaткy нa дoxoди фiзичниx ociб (18%), щo пpибиpaє мoжливocтi викopиcтaння piзниx cтaвoк пoдaткy для мiнiмiзaцiї oпoдaткyвaння гpoмaдянaми. " link

So for business it will be like 10 % + 18 % (if they will pay it at all lol)
And 18 % also if you're winning something.

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10% is already a huge amount especially for small gamblers but other countries are actually asking for higher tax so it's still something to be grateful about. In our country, our government is always asking and looking for sources of taxes so gamblers are always being taxed more than 10%. If it's the government's law, then we have to abide it.

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In my opinion, it should be 30% I do consider that it may affect some small or just starting gambling casino's in Ukraine but we are in the midst of a pandemic and instead of just focusing on the needs people tend to face on their wants that they don't usually need, and gambling is something that they surely hold on in times if they want instant money, some just consider this as having fun, I really think this is a fair idea that the government should implement, and by doing so I guess some people will now avoid gambling but I think people with stable financial status would just consider this as OK.

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Quote from: Peanutswar on June 10, 2021, 08:58:08 PM

I guess it's just a small amount for the gambling casinos because there are a lot of people today who makes gambling with a huge amount but again there are some management who don't want to pay a lot even though it a 10 percent imagine how much you earn and then the 10 per cent of the total earning will go to the government, still its a regulation on their country if they want to make gambling casino. The whole goal is to have an authority to run a gambling casino also its just a small amount to them if they will pay those for having a tax. Base on my country they are having a 10-20 percent of tax.

If the amount is small, the casino will not think much. I think the casino can pay the taxes because their profit will be bigger than the amount they should pay. I am sure the casino will follow the regulation from their country because as long as they can obey the rule, their business will be safe and no one can disturb them to make a profit. People can hope that it can help the country to grow, especially in this pandemic.

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I guess it's just a small amount for the gambling casinos because there are a lot of people today who makes gambling with a huge amount but again there are some management who don't want to pay a lot even though it a 10 percent imagine how much you earn and then the 10 per cent of the total earning will go to the government, still its a regulation on their country if they want to make gambling casino. The whole goal is to have an authority to run a gambling casino also its just a small amount to them if they will pay those for having a tax. Base on my country they are having a 10-20 percent of tax.

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Quote from: fiulpro on June 07, 2021, 12:01:33 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% . 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.

Topic: Gambling tax proposal in Ukraine - page 4. (Read 1060 times)