Feature: Ganna Buiadzhy
Partners in Growth Casino Life Ukraine Interview with Ganna Buiadzhy, Managing partner VigoLex Law Firm
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ell us about VigoLex Law Firm? Yes, sure. I have always been certain that the potential of the Ukrainian market is very large, but how actively foreign operators will enter the it depends primarily on how clear and transparent the taxation system will be. Another important factor is the adequate ratio of the taxation system and the cost of a gambling license. Almost all experts who comment on the gambling industry say that there are two main approaches to the regulation of gambling in the world: 1 - high license cost and low taxes; 2 - relatively low license cost, but with high tax rates. Ukraine has found its own special
Ganna Buiadzhy, Managing partner VigoLex Law Firm 14
third way. We have established an exorbitant cost of licenses and retained the high level of taxation, and this despite the fact that the tax rates and payment procedure are not completely clear. At the moment, the parliament in the first reading adopted a law draft that provides a resolution to this issue, in particular, by fixing a single tax rate for all types of gambling at 10%. Therefore, if the draft is passed in its current state or at least close to the present version, we expect that Ukraine will become an even more attractive country for foreign investors. Now most of our clients have opted for a wait-andsee policy, they want to see how the market works. Any business has to make money, and according to the current system, using the simplest calculations, it is not clear “where is the money, Billy?” For those who want to work legally and transparently, it is clear that operating in Ukraine is not very profitable yet, www.casinolifemagazine.com.ua
