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Author Topic: Gambling tax proposal in Ukraine  (Read 1050 times)
Renampun
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June 11, 2021, 10:37:52 PM
 #61

...

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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June 12, 2021, 02:59:42 PM
 #62

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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June 12, 2021, 03:37:38 PM
 #63

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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June 12, 2021, 04:28:00 PM
 #64

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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June 12, 2021, 04:51:50 PM
 #65

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.

R


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June 12, 2021, 05:02:00 PM
 #66

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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June 12, 2021, 05:03:14 PM
 #67

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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June 12, 2021, 05:26:16 PM
 #68

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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June 12, 2021, 06:24:40 PM
 #69

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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June 13, 2021, 01:23:35 PM
 #70

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.


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.


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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June 14, 2021, 08:09:40 PM
 #71

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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June 14, 2021, 09:08:13 PM
 #72

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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June 14, 2021, 09:12:57 PM
 #73

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.

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.
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June 17, 2021, 04:26:20 PM
 #74

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.

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June 17, 2021, 04:33:20 PM
 #75

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.

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.
True, Operators will still find ways to operate even if it is illegal. There are many underground casinos that exist in every country and some of those underground casinos are in a country that gambling can be legalized. It is better to just give an option to operators to go legal despite having high tax. If tax is pretty high, there is a tendency that only a few casinos will exist and could result in high traffic of customers to those few casinos. It will be a battle of survival of casinos in that country.

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June 17, 2021, 04:55:33 PM
 #76

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.

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/

I don't see anything wrong with high taxes on gambling products. In this business, it's easy to earn money but very hard to establish as a casino. Easy money - easy (high) tax, no problem. Btw in Germany, people pay very high taxes on everything. Your net salary is roughly 58% of your gross salary, it still depends on your income, marriage status, etc. So, for Germany, it's as it should be.
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.

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June 17, 2021, 05:20:38 PM
 #77

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.

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
I don't see anything wrong with high taxes on gambling products. In this business, it's easy to earn money but very hard to establish as a casino. Easy money - easy (high) tax, no problem. Btw in Germany, people pay very high taxes on everything. Your net salary is roughly 58% of your gross salary, it still depends on your income, marriage status, etc. So, for Germany, it's as it should be.
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 the taxes are expensive, but the services you have access in retribution are decent I think there is nothing wrong in paying more. But actually it only works this way in West Europe, North America and few asian countries. All the rest are well known for precarious public services and high taxes at same time. So it's normal people from those countries become more skeptical about the use of tax money by the government, even more because there is a huge history of corruption on those countries. 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.

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June 18, 2021, 01:32:25 PM
 #78

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.

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June 18, 2021, 06:35:34 PM
 #79

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.
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June 18, 2021, 06:56:01 PM
 #80

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.
Trying to compare that drug problem is an another serious matter which cant really be that resolved if they do wanted it to be banned or prohibited.,

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.

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