During a recent session of Armenia’s Standing Committee on Economic Affairs, a proposal to raise taxes on the gambling sector was brought forward for discussion.
MP Hayk Sargsyan introduced the draft law, which suggests implementing a 10% turnover tax on gambling companies, in addition to the existing taxes and duties already levied on the industry.
Sargsyan pointed out that between 2010 and 2023, the volume of betting in Armenia surged by more than 440 times, while the taxes and duties collected from the gambling sector only grew 26 times during the same period. This discrepancy, according to Sargsyan, highlights the need for stricter taxation measures.
While previous steps have been taken to regulate the gambling industry and increase its tax burden, Sargsyan emphasized that these measures have not been sufficient. The new proposal aims to close this gap and ensure that gambling companies contribute more to the state budget.
The MP noted that if the draft bill is passed in its current form, it could generate an additional 100 billion AMD (approximately $250 million) annually for Armenia’s state budget.
This proposal follows legislation passed in June 2023, when the Armenian Parliament introduced new tax charges on gambling winnings. Under that law, a 5% income tax was applied to what is classified as a “large win.”
In other European developments, Sweden’s gambling authority, Spelinspektionen, has released new guidance focused on anti-money laundering (AML) and anti-terrorist financing (ATF) practices. Additionally, the authority introduced an updated risk assessment to further strengthen compliance in the gambling sector.
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