Compliance Updates
Breaking News: Legalisation of Gambling in Ukraine has been adopted in the first reading
The international holding Parimatch welcomes the decision from Parliament on the legislative regulation of gambling in Ukraine.
The adoption of Bill 2285-D in its first reading is the first step towards creating a fair and transparent gambling market, which will, in turn, attract investment and introduce new technology to the country. Once legalized, the market will create thousands of jobs, contribute to both state and local budgets, lead to an increase
in tourism, and will help to counter corruption in professional sports. Also, the increased tax revenues generated will provide much-needed funds to support culture, medicine, and sports in Ukraine.
In order for gambling to be fit for legalization and become an important contributor to the state and society, it is critical that laws are developed in line with best-practice international standards.
Any investor should feel that the market conditions are fair, and, above all, taxation is reasonable. Therefore, by the second reading, we expect amendments will be prepared for the Tax Code of Ukraine. It is essential to balance the price of licenses with tax burdens. International business and Ukrainian companies will not be able to invest in the Ukrainian economy without an understanding of the taxation concept and a transparent model of return on investment.
People’s deputies of Ukraine shoulder great responsibility when preparing the bill for its second reading, which must meet the highest international standards for legalizing the gambling industry.
Parimatch is open to dialogue and working with lawmakers as part of the finalization of the bill. They are happy to share their comprehensive global expertise and knowledge gained over the years operating as a successful, internationally focused and responsible gambling company.
A major compliance-related update of the Ukrainian gambling industry will be presented during the Prague Gaming Summit by Evgenia Derbal (Head of Legal at Parimatch) and Maksym Liashko (Partner at Parimatch)
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