The gambling business of Ukraine paid a record 8.4 billion UAH in taxes to the state budget in the first half of 2024, which is almost three times more than in the same period of 2023.
This information was reported by the Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev. According to him, the gaming business profit tax increased by 7.3 times compared to the previous year, and the personal income tax (PIT) increased by 26.1%.
It is also worth noting that the growth of budget revenues, including from the gambling business, is part of the general trend of increasing revenues associated with the improvement of economic indicators and a more effective tax policy.
In general, the gambling business in Ukraine continues to show rapid growth, which is confirmed by significant tax revenues to the state budget. In the first half of 2024, this sector paid almost three times more than in the same period of 2023.
In 2023, the gambling business in Ukraine also showed growth, but the pace was much lower. According to official data, in the first six months of 2023, about UAH 3 billion of taxes were paid to the budget. The increase in tax revenues in 2024 indicates an improvement in the efficiency of regulation and an increase in the volume of activities of market operators.
The main reasons for this growth are:
- Market expansion: an increase in the number of gaming operators, as well as new investments in the sector.
- Effective regulation: increasing the effectiveness of control over the activities of operators, which made it possible to reduce the number of illegal gambling establishments.
- Popularity of Online Casinos: The rise in popularity of online casinos and other digital platforms has allowed it to reach a larger audience.
The gambling business plays an important role in the country’s economy. Increased tax revenue allows the government to finance social programs, infrastructure projects and other important initiatives. However, along with the positive economic effects, the social risks associated with gambling addiction and other negative phenomena should also be taken into account.
