Federal government fines banned sports betting company Parimatch over $23 billion
Parimatch Makes a Comeback, Facing Over $560 Million Fine
The notorious betting company, Parimatch, is once again making headlines, this time for a hefty financial blow. As per the decision of the Kyiv Administrative Court of Appeal on March 7, 2025, the State Tax Service has slapped Parimatch with a whopping fine totaling approximately 23 billion hryvnias—that's around $560 million!
The tax authorities conducted an audit on LLC "Parimatch" for activities spanning from 2021 to March 13, 2023. Their investigation uncovered a plethora of violations of tax and other legislation.
This hefty fine was levied during a period when "Parimatch" boasted about paying over a billion hryvnias in taxes and having no outstanding debts with the state.
At present, "Parimatch" has emerged victorious in the first-instance court, but the ball is now in the tax authorities' court, as they've taken the case to appeal.
The exact timeline for the resolution of the appeal is yet to be determined, but rest assured, the eyes of the nation are glued to this financial rollercoaster ride.
Enrichment Insights:- Background: The fine stems from a tax audit conducted between 2021 and March 2023, hinting at ongoing disputes between the company and the Ukrainian tax authorities.- First-Instance Court Decision: In a surprising turn of events, Parimatch managed to secure a victory in the first-instance court.- Appeal Status: The Ukrainian tax authorities have thrown their hat into the ring, filing an appeal. The appeal is currently pending review.
- Despite claiming no outstanding debts with the state and boasting about paying over a billion hryvnias in taxes, Parimatch faces a fine of around 23 billion hryvnias, approximately $560 million, following an appeal by the Ukrainian tax authorities in 2025.
- The sports-betting industry giant, Parimatch, is currently grappling with a finetotaling over 23 billion hryvnias, after the tax authorities discovered numerous violations of tax and other legislation during an audit spanning from 2021 to March 2023.
- The fintech sector has been keeping a close eye on the situation involving Parimatch, as the company faces a potential fine of over $560 million, a decision that stems from an ongoing dispute with the Ukrainian tax authorities.
- In contrast to the dramatically high fine they are facing, Parimatch secured a victory in the first-instance court, but the tax authorities have since taken the case to appeal, leaving the company and the industry on edge.
- Looking towards 2025, the finance world eagerly awaits the resolution of this high-stakes appeal between Parimatch and the Ukrainian tax authorities, with a potential fine of around 23 billion hryvnias, or approximately $560 million, hanging in the balance.
