Ukraine’s Finance Minister Favors Gambling Legalization, Cites Tax Projections

Ukraine’s Finance Minister Favors Gambling Legalization, Cites Tax Projections

As comedian turned politician, Ukrainian President Volodymyr Zelensky has committed himself to bring about some radical changes, – which includes legalization of gambling – it seems he has popular support for his new measures.

Recently, the country’s finance minister, Oksana Markarova favored the legalization of gambling in the country and said that with a regulated gambling market the country would benefit from increased taxes as it could bring an estimated Hr 5-9 billion in additional taxes.

The Finance Minister also confirmed that the draft law has been submitted to the Verkhovna Rada and that the revenues from legalized gambling can be a part of the 2020 draft state budget.

“According to our conservative estimates, this is Hr 5-9 billion of the resource, which can be fully mobilized if everything works,” Markarova said.

In a recent press conference, the President spoke in favor of the bill and said that it would be the “first stage” of legalized gambling in Ukraine.

“We will reduce the number of people gambling away the last of their money,” the president said. “These are mostly ordinary people.”

“We have five-star hotels on the market, but they are very small. There is no way to build a casino yet. We need to test how people will fight for these licenses. We want hotels to be built.”

Earlier in October, Ukraine’s Cabinet of Ministers approved the government’s new Action Program which includes the draft law that seeks the legalization of gambling in the country.

While the draft law has not been brought in the public domain, the cabinet in its announcement said that the law would allow gambling “exclusively on the territory of hotels, with use of gambling equipment with software that meets international standards.”

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