Tag: Eastern Europe

The Parliamentary Committee on Finance, Tax and Customs Policy has published the final gambling tax bill that will accompany Ukraine’s new gambling legislation, which was passed last year.

The committee has made a number of minor changes and clarifications after reading bill 2713-D for a second time.

On its first reading, the committee introduced a flat 10% tax rate for all Ukrainian gambling verticals and removed a clause that temporarily tripled licence fees for the period up until a national monitoring system could be introduced.

The new changes include a clarification that the first licensees, such as Parimatch and Cosmolot, that have already paid the higher licence fees will have the amount they overpaid put towards future renewal fees.

The bill also now orders the National Bank of Ukraine to examine maximum cash limits for land-based casinos to ensure strong anti-money laundering practices.

Another change deals with gambling winnings, allowing casino and slot players to deduct losses from any winnings they make in the same 24-hour period. Winnings of over UAH480,000 (€14,900) a year will be taxed at 18%.

The bill will now receive a second reading in parliament, which may see it passed and sent to President Volodymyr Zelensky to be signed into law.

Verkhovna Rada, the parliament of Ukraine, has sent a bill that would set gambling taxes in the country to a second reading, though an attempt to wave through the proposal with a single vote failed.

The proposal – bill 2713-D – was first put forward by a legislative committee in February this year and would set tax rates at 10% of gross revenue for all verticals. In addition, the proposal also repeals a threefold increase in licence fees that would have applied until the country established a central monitoring system for gambling.

The Rada first voted on whether to pass the bill into law, without the need for a second reading. Although many more deputies voted for the bill than against, by a 217-59 margin, 55 members either abstained or didn’t vote. As a result, the bill fell short of the 226 votes required to pass a bill without a second reading.

After this vote failed, deputies then voted on whether to instead simply pass the bill to a second reading. In this case, 229 deputies voted for the bill and 58 against, allowing it to pass.

The bill had previously been scheduled for a first reading on 19 May, but this vote was delayed to June.

WorldMatch has announced an important milestone for its international growth: the launch of 34 certified products for the Belarusian regulated market.

Belarusian players will be able to enjoy a rich portfolio of engaging and exciting slots. WorldMatch has selected 34 slots for Belorussia among its classic contents and new games. The portfolio varies from classic slots like fruit and Egyptian to brand new themes like nature, adventure and much more.

Andrea Boratto, CEO of WorldMatch, comments on the launch of its slots in Belarus confirming the intention of WorldMatch to continue developing its business on all markets under regulation; therefore, obtaining the necessary certifications immediately to operate in countries that promote legal gaming is perfectly aligned with the strategy of the company. He added that in addition to the European market, WorldMatch relies heavily on LATAM countries and Eastern Europe for the increase of regulated gambling.