Armenia moves to a new system of taxation of gambling business

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The Armenian government has decided to make changes to the current taxation system for organizers of the gambling business, Deputy Finance Minister Arman Poghosyan said.

The Armenian government reported that the updated system will appear in the country by the beginning of 2020. In Armenia, bookmakers, as well as lotteries, transfer a fixed amount to the budget, which they receive for their work. However, the amount of this amount does not depend in any way on the total profit from this or that object: It would be much better to set a fixed tax rate, focusing only on the profit that Armenian gambling companies receive. But, for example, rates will not be subject to value added tax, since the tax applies exclusively to any goods or services, and rates have nothing to do with them. In turn, Arman Poghosyan clarified that the proposal regarding the presented taxation system is being finalized and the government may make a few more changes. Earlier, Nikol Pashinyan, the acting Prime Minister of Armenia, proposed to close all gambling establishments operating in the country. The authorities, in turn, said that they are not ready to give an accurate assessment of the proposed draft law.

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