Lottery market goes underground because of ridiculous taxes

Lottery market goes underground because of ridiculous taxes

In 2014, one introduced a new taxation system for the lottery market. With such a system appearing to be inefficient, the market started going underground, industry expert Georgiy Lozhenko believes.

Since 2014, even small winnings amounting to 5 UAH have been taxed.

Accordingto the expert, such an absurd situation resulted in players shifting to the shadow market without any tax levies.

Mr. Lozhenko asserted that the government crashed the lottery market on its own and provoked the lack of tax returns into the budget.

He stresses that there are a lot of examples of successful countries with developed lottery markets. Such states direct lottery taxes to public purposes.

He thinks it is a certain official rather than the government that is responsible for the current situation.

 

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