EurAsia
Armenia Intends to Impose Additional Taxes on Bookmakers and Sweepstakes

The Armenian parliament has passed the first reading of state duty amendments that would see duty increased for betting, sweepstakes and online gaming.
According to Deputy Minister of Finance Arman Poghosyan, the problem is that although these companies have been paying tax on profit since 2021, the need for new regulations has arisen, as the sector’s turnover has grown dramatically since 2017- from 140 billion drams to 4.2 trillion drams in the first 9 months of this year ($1 – 395.30 drams).
The amendments call for revising the licenses provided to these companies and introducing a quota system.
In particular, a company organising Internet gambling with the winnings will have to buy from the state the right to accept bets worth 100 billion drams and pay 175 million drams in duty for every 100 billion.
The system for sweepstakes is different – for the right to accept bets of 50 million drams, they will have to pay additionally 5 million drams.
The proposed changes are expected to generate additional revenues of 10 billion drams annually, except for 2023, as the law is to enter into force on July 1.
-
Africa5 days ago
QTech Games wins Best Innovation of the Year at the 2025 SBWA+ Eventus Awards
-
Asia5 days ago
NODWIN Gaming and JioStar Unveil OnePlus Android BGMS Season 4
-
Latest News5 days ago
Vindral appoints Henrik Fagerlund as Chairman of the Board
-
Latest News5 days ago
Calema to Perform at Legends Charity Game in Lisbon
-
Conferences in Europe5 days ago
EGT Digital and EGT to rock the show at SiGMA Euro-Med 2025
-
Latest News5 days ago
Push Gaming redefines its portfolio, unveiling new game categories and sub-brand for extended player reach
-
Affiliate Industry5 days ago
Nikita Lukanenoks Brings Slotsjudge Into Spotlight With Affiliate Leaders Awards 2025 Nomination
-
Latest News5 days ago
Thunderkick returns for an even fierier fiesta in Carnival Queen 2