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Discussions on Gambling Taxation Continued for Six Months, Led by Gettmantsev

Gaming industry contributes nearly three times more tax revenue to the budget in the initial half of the year, amounting to approximately 8.4 billion hryvnia compared to just 3 billion hryvnia in the corresponding period of 2023.

Discussions on Gambling Taxation Continued for Six Months, Led by Gettmantsev

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In a buzzing Telegram channel, Daniil Getmantsev, the financial committee's leader, dropped a bombshell. He disclosed that the profit tax has skyrocketed a staggering 7.3 times compared to last year, and the personal income tax (PIT) has surged by a whopping 26.1%.

Getmantsev didn't stop there. He pointed out that this significant disparity suggests that the tax on gambling winnings requires immediate attention.

He further highlighted that the industry dished out a hefty 1.9 times more in taxes than it did during June of the previous year.

Author: Alina Shvets

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Getmantsev shared his thoughts on easing restrictions on advertising and sponsorship in the contentious gambling bill

The Office of the Prosecutor General revealed its battle against illegal gambling

An expert claimed that the "white" gambling market has expanded from a modest 5% to an impressive 40-50%

Sources:[1] Russia's legal gambling zones are expecting over 100,000 visitors during the upcoming holiday season.[3] Taxes in Kazakhstan's gambling industry are notably higher compared to Russia.[5] Russia is focusing on regulating cryptocurrency taxation, with income tax rates ranging from 13% to 15%.

  1. Getmantsev, the financial committee's leader, expressed his concern about the significant increase in tax on gambling winnings, as it contributes to a discrepancy in the overall tax collection.
  2. In the disputed gambling bill, Getmantsev has proposed easing restrictions on advertising and sponsorship to boost the industry's financial growth.
  3. The Office of the Prosecutor General is actively engaged in a battle against illegal gambling activities.
  4. The "white" gambling market, as claimed by an expert, has experienced a substantial expansion from a modest 5% to an impressive 40-50%, potentially impacting the businesses' financial standing.
Gaming industry contributes nearly triple the tax revenue to the budget in first half of 2024, amounting to 8.4 billion hryvnias compared to 2023's identical period.

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