The gambling industry in Armenia will be subject to a 10% turnover  tax in addition to current taxes and duties

ArmInfo. The gambling industry in Armenia may be subject to a 10% turnover tax in addition to existing taxes and duties. At its meeting on February 5, the RA National Assembly Committee on Economic Affairs issued a positive  opinion in the first reading on the amendments to the Tax Code  submitted by Hayk Sargsyan, a member of the NA from the ruling Civil  Contract faction.  According to the author of the legislative  initiative, over the past 13 years, the turnover of gambling, online  gambling, virtual gambling, lotteries, betting, and activities to  organize online betting has been growing at an alarming rate.

Sargsyan mentioned that in the past 5 years, several legislative  changes have been implemented  to restrict the gambling business and  increase the tax burden. However, statistical analysis indicated that  these measures have not been sufficient, and there is a need to  further increase the tax burden. The draft proposes to introduce a  turnover tax of 10% on the sector in addition to the current taxes  and duties. 

Deputy Chairman of the NA Committee on Economic Affairs Babken  Tunyan, highlighted the importance of considering all existing risks  in connection with the presented initiative. He  emphasized that  gambling companies are legitimate business entities in Armenia and  are protected by laws. He expressed concern that that imposing strict  tax measures could potentially drive these companies out of Armenia.  They may relocate to other countries and continue their activities,  possibly even in Armenia's virtual space. The deputy urged the bill's  author to withdraw the submitted document  for further review at the  next meeting of the commission.. Tunyan noted that increasing tax  burden does not always result in higher budget revenues.