Gambling companies have already quadrupled tax payments this year
Gambling companies have already quadrupled tax payments this year (Photo:Chris Liverani/Unsplash)
Ukrainian gambling companies have already paid more in taxes since the start of the year than for the entirety of 2022, the Economic Security Bureau wrote on its site on June 12.
Over UAH 2.2 billion ($60 million) in taxes have been already paid — four times greater than the total amount paid last year.
In 2021, online casinos paid UAH 34.5 million ($930,000) into the Ukrainian state budget. In 2022, tax revenue from gambling rose to UAH 549.7 million ($14.9 million).
Previously, the gambling industry largely avoided paying taxes, via the manipulation of payments and the concealment of their real purpose — mainly by filing income under payment codes that carry a lower tax rate. The increased revenue may be the result of stricter enforcement of tax policies, as these schemes have become more difficult to pull off.
The administration of President Volodymyr Zelenskyy has previously proposed eliminating Ukraine’s gambling regulatory body, though parliament lacked a quorum at the time to do so.
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