Compliance Updates

Armenian Parliament Passes Gambling Tax Changes

Published

2 years ago

December 20, 2022

Reading Time: < 1 minute

The Armenian parliament has passed the second and final reading of amendments to the law on state duty. Approved with 60 votes in favour and 6 abstentions, the amendments include increases in duty for bookmaking, sweepstakes and online games.

The amendments, which passed the first reading earlier this month, make changes to gambling licences and introduce a quota system.

A company offering online gambling with winnings would have to buy the right to accept bets worth 100bn drams (€239.8m) and pay 175m drams (€419,800) in duty. The system for sweepstakes would be different. For the right to accept bets of up to 50m drams, operators would have to pay an additional 5m drams.

Deputy Minister of Finance, Arman Poghosyan, said that the increase in tax was necessary because gambling turnover had risen dramatically, from 140bn drams in 2017 to 4.2tr drams in the first nine months of this year. The changes are expected to generate additional revenues of 10bn drams per year from 2024. They will enter force on July 1, 2023.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.