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Ukrainian gambling business will be legalized by 2018

Ukrainian gambling business will be legalized by 2018

Memorandum signed between the IMF and Ukraine and published on the network by the Batkivshchyna party binds the Ukrainian authorities to legalize gambling business in the country not later than 2018. The gambling sector, according to IMF representatives, will contribute to enriching the state treasury.

The draft tax reform, in addition to gambling legalizing, is supposed to tighten tax regulations, abandoning tax cuts and creating new tax privileges. It is expected that a new legislation will be submitted to the Verkhovna Rada for discussion on April of current year.

Zoryan Shkiryak, the Adviser to the Minister of the Ministry of Internal Affairs, approvingly covered the news about the gambling legalization in Ukraine. According to the official, approximately 12 billion hryvnya passes by the state treasure through a shadow gambling. He believes that regulators are obliged to impose restrictions on vulnerable segments of the population, and the gambling should be available to wealthy people only who are able to pay for their entertainment without harming their family budget.

Gregory Tripulsky, a vice president of the Association of Gambling Business, believes that the gambling will not only significantly replenish the budget of Ukraine, but will also give an impetus to the development of tourism, hotel, and restaurant business.

Note: today, in the Verkhovna Rada it has been passed six draft laws on the gambling legalization. According to the Minister of Finance of Ukraine, Alexander Danilyuk, having legalized the gambling business, the country and all ecosystem participants would only benefit.

Thus, businessmen can freely operate within the framework of the Ukrainian government, without breaking the law but coming out of the shadow. The government, for its part, will receive significant funds that can be used to finance various sectors – film industry, art, sports, etc.

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