A major gambling conference Ukrainian Gaming Week took place in Ukraine

A large-scale Ukrainian Gaming Week (UGW) conference dedicated to topical issues of the gambling market took place in the capital of Ukraine. The well-known international company Smile-Expo became the organizer of this event. The event was held on the territory of Kyiv's five-star Premier Palace Hotel.

The conference brought together Ukrainian and foreign experts in the field of gambling, economics, law and related industries under one roof. The participants of the discussion discussed the most pressing issues of the functioning of the gambling market in Ukraine, touched upon the nuances of its regulation, licensing and taxation of operators, and suggested ways to solve existing problems.

Premier Palace Hotel
Premier Palace Hotel in Kyiv

Boris Baum, a representative of the Office of the President of Volodymyr Zelensky, an adviser on the legalization of the gambling business and a member of the council of the local regulator, was the first to speak to those present. The expert noted the most important problem for most companies that were the first to want to obtain a Ukrainian license. It consisted in the incorrect execution of all technical documentation, which was the reason for the refusal by the Commission.

“I hope that the legal work of licensees will gradually improve. This will allow operators to submit documents and obtain licenses faster,” Baum said.

The functionary also noted the presence of a number of inconsistencies in the relevant laws that require amendments. Boris Baum confirmed that the relevant government agencies will deal with this issue. All work on editing the legislative framework will be carried out in dialogue with operators.

The participants paid special attention to the topic of taxation of the gambling entertainment industry in Ukraine. During the analysis, it became clear that the existing fiscal rules need to be seriously improved. Thus, the current work of the gambling industry is regulated by the Tax Code of 2016, which does not take into account a number of features of today.

Many call this issue perhaps the most pressing in the Ukrainian gambling business. Due to flaws in the tax system, foreign operators are afraid to register in the local jurisdiction. Companies simply cannot correctly calculate the costs they will incur. The deputies of the Verkhovna Rada present at the conference promised to contribute to the speedy consideration of this topic.

Recall that the expertdisclosed some details of the functioning of the Ukrainian gambling market.

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