ArmInfo. The tax burden on the sectors with high profitability will increase. The relevant amendments to the Law "On State Duties" were adopted at the National Assembly's sitting in the second and final reading on December 23.
Deputy Finance Minister of Armenia Karen Tamazyan said that the amendments aim to bring the provisions of the Armenian Law "On State Duties" in compliance with the Tax Code provisions. First of all, the matter concerns gambling games. In particular, the amendments suggest increasing the annual state duty from the current 100 mln AMD to 500 mln AMD. The deputy minister stressed that 4 companies engaged in gambling industry paid to the state budget 800 mln AMD per annum. Now they will have to pay 4 bln AMD. In 2014, these companies' turnover amounted to 33 bln AMD, in 2015 - 38 bln AMD. As regards online gambling, in 2014 the turnover amounted to 44 bln AMD, in 2015 - 77 bln AMD, and in Jan-Sept 2016 - 106 bln AMD. The companies' profitability ranges from 5% to 20%.
Karen Tamazyan noted that over the past 10 years the mechanism of taxation in this sector underwent no changes. The Armenian Government's policy in this field is aimed at forming more justified tax burden for the sectors with high profitability. At the same time, the deputy minister thinks no companies engaged in gambling industry will be closed.
