Ukraine's fledgling gambling sector awaits the end of the year, when the final tax framework and technical amendments to the Gambling Law will be scrutinized by the Verkhovna Rada.
Despite the sanctions imposed last August, the Rada's failure to resolve the tax, licensing and technical terms of the Gambling Law has frustrated domestic players, leaving international operators in limbo about entering the renewed gambling market in Ukraine.
A frank assessment of Ukraine's 1-year market developments by regulatory stakeholders opened the discussion panels of Day 1 of the SBC CIS Summit in Kiev.
Baum detailed his frustration with the Rada's insistence that all gambling tax proposals be reconsidered, as the Finance Committee recommended Tax Code 27/13D as the basis for market consensus.
In supporting the amendments to Tax Code 27/13D, Baum said - The market will see changes that will finally allow operators to plan their financial models.
In the middle of political developments, he disclosed that the Finance Committee has established a 10 percent GGR tax rate applicable to all licensed activities, with fees for three licenses.
On a further positive note, Baum said the gambling amendments would maintain technical parity because gaming servers could be located in European Union member states.