Zelensky signed a law that cancels tax benefits for the gambling business

Author:
Kostia Andreikovets
Date:

President Volodymyr Zelensky signed a law that cancels tax benefits for the gambling business (paying only 2% of turnover) and forbids it to work under a simplified taxation system.

The draft law amends the Tax Code and will affect businesses that organize gambling, lotteries (except distribution of lotteries), bets (bookmaker bets, totalizer bets).

The document will enter into force the day after its publication.

  • On March 15, 2022, the Verkhovna Rada (Ukrainian Parliament) imposed a simplified taxation system for the period of martial law. This means that not only individual entrepreneurs, but also large companies could pay a single tax. However, later the public began to criticize that the gambling business also switched to a simplified taxation system. As a result, the budget received significantly less funds.
  • The council abolished tax incentives for gambling businesses on January 12, 2023.