ARMENIA

Armenia to increase taxes for casinos

The acting Deputy Minister of Finance of Armenia announced that the amount of income tax should depend directly on the revenue of a gambling operator.

Now casinos pay fixed fee in Armenia. In the some cities defined by the government, the taxes will be lower (in Tsakhkadzor – 150 million drams per year, in Sevan – 120, in Jermuk – 80, in Meghri – 30). In other areas, the fee is 4.5 billion (about 9.3 million dollars).

“But it is more correct if the tax depends on their revenue. The more money they collect, the more they pay taxes. Previously, it was more difficult for us to keep track of what the casino turnover was, but now there is such an opportunity. Therefore, we will fix the turnover and count tax on it”, the acting Deputy Minister explained.

Bets will not be subject to VAT.  As the official explained, the added value is created for goods and services. But it’s hard to imagine what the value of a bet is. So far, as the minimum option, a standard 20% income tax is planned to be applied for casinos.

Source: armeniasputnik.am

 

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