Increased Taxes on Gambling Business Revealed by Gettmantsev
In the recent memo shared on his Telegram channel, Daniil Getmantsev, head of the parliamentary financial committee, reported significant tax revenue gains. According to his figures, revenues surged to 1.4 billion UAH in July, a staggering 3.5 times higher than the same month the previous year.
Getmantsev attributed this growth to the ongoing demonetization trend, appreciating the efforts of everyone involved in making it a reality. Yet, he didn't shy away from criticizing the regulating body, the State Tax Service of Ukraine, for failing to launch the anticipated online monitoring system.
"KRAIL," a term used by Getmantsev, remains somewhat of a mystery in the context of Ukraine's taxation system. While unclear what specifically "KRAIL" refers to, there have been recent developments in Ukraine's taxation system regarding digital platforms.
Ukraine has proposed legislation to implement a digital platform reporting system and an income tax withholding obligation for digital platforms, aiming to track income generated through these platforms. The law is due to be presented to the Ukrainian parliament by the end of April 2025, with the first reporting period starting January 1, 2026.
In addition, Ukraine is piloting a digital registration system via the Diia app in cities like Kyiv, Lviv, and Dnipro, facilitating digital signing, online tax payments, and remote registration of ownership, thereby enhancing digital interaction with tax authorities.
Without a clear definition of "KRAIL," it's challenging to determine its relation to Ukraine's current taxation systems. If "KRAIL" refers to a specific system, program, or acronym not widely documented or known under that name, further clarification or a different source might be required to provide more detailed information.
Stay updated on the latest developments in Ukraine's taxation sector by reading about the Office of the Prosecutor General's fight against illegal gambling and the growth of the "white" gambling market at sporting.net.
- The term "KRAIL," mentioned by Daniil Getmantsev, could potentially be related to the upcoming digital reporting system and income tax withholding obligation for digital platforms in Ukraine.
- The anticipated online monitoring system in Ukraine's finance industry, particularly in the tax sector, is still to be launched, despite the ongoing demonetization trend.
- The finance, fintech, and gambling industries in Ukraine might be significantly impacted by the implementation of digital platforms reporting system and the growth of the "white" gambling market.
- As of now, the exact relationship between "KRAIL" and the 2023 taxation trends in Ukraine remains unclear due to a lack of official documentation or widely known information regarding "KRAIL."
