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Due to the fact that politicians do not have enough time until the end of their 2021 parliamentary session, the adoption of a resolution that would allow gambling and land-based gambling companies to operate more clearly in Ukraine has been postponed

The country, which is home to more than 41 million people, with the gambling sector reaching up to �967 million per year before the ban in 2009, is in the process of lifting the ban and opening up Ukraine to the industry as a whole. Following the lifting of the ban in August 2020, the adopted legislation still lacked a number of technical details regarding taxes and other issues that the proposed law 2713 sought to address.

Ilya Machavariani, Senior Partner at 4H Agency, a gambling consultancy, explained that the law aims to abolish the Ukrainian “triple-lock license fee” and replace it with a flat rate of 10% of all revenue generated by companies in this industry. This system is politically supported by the majority of the relevant Servant of the People party, but force majeure circumstances led to the bill being rejected due to the procedural scrutiny of all tax proposals, as well as the urgent political situation. While the Verkhovna Rada, Ukraine’s parliament, was due to vote on the bill as the proposal was approved by the organization’s finance committee, President Volodymyr Zelensky touched on more important issues such as the COVID-19 pandemic and ongoing tensions with Russia. The bill was not raised at the body’s last meeting on Friday, which was the last opportunity for it to do so before parliament leaves for seasonal holidays and meetings are due to resume on January 4.

To quote Machavariani directly on the topic of this regulatory result, “we are constantly monitoring the situation with everything related to the regulation of the gambling business in Ukraine, and today we expected that this would finally unfold into something more meaningful than another delay. Unfortunately, today the parliament did not have time to hear bill 2713, and now we will see if it finally reaches a vote in two weeks. At the moment, the outlook for this is pretty bleak.”

Source: Casino.com

SiGMA Asia 2022
After the exciting set of conferences that the Malta Week 2021 has become, SiGMA Group plans to take the world by storm by visiting the golden domes of Kyiv and the snowy city of Toronto, where they will bring together the best and brightest representatives of the iGaming world. Our next exhibition will take us to the ultra-modern metropolises of the United Arab Emirates, where we will organize three days of networking, group discussions and celebrations. Stay up to date with the latest SiGMA News.