The gambling business in Armenia will pay taxes in a new way

The gambling market of Armenia is slowly but correctly developing, moving into a more civilized direction. For example, recently, the issue of returning the casino to the capital of the state has been increasingly being discussed. Thus, adherents of this initiative believe, gambling will be able to bring more benefit to the country’s economy. At the moment, gambling clubs act only in specialized areas that are distant from settlements, which does not allow them to work at full force.

An important factor that helps to move the Armenia casino back to the capital is a change in the current taxation system of this area of ​​activity. According to the decision adopted by the Government, the casino tax payments will now separately be carried out for each type of gambling: roulette, poker, slot machines, etc. D. So the authorities of Armenia plan to increase budget revenues.

Recall that earlier entrepreneurs had the opportunity to engage in this area of ​​activity, paying tax in the form of a clearly defined percentage of revenue of the institution. In the current situation, local casinos will be forced to work in a tougher framework. However, if they are given the opportunity to return to Yerevan, the complications that arise can be equated, since the number of visitors to gambling establishments will automatically increase.

It is worth noting that the gambling business in Armenia has a fairly long history, the beginning of which was in the 20s of the last century. In the early 90s, the revival of the gambling market of Armenia begins, at this time the first gambling clubs appear in the capital of the country, the first casino opens. An important point was the introduction of a licensing of this business, as well as the establishment of a special taxation regime. Then the income tax in this area of ​​activity was 70%.

In 2018, a law began to operate in Armenia, which obliges all the casino to work only within the special gaming zones in resort cities: Jermuk, Sevan, Tsahkadzor. If the game institution wants to stay in the capital’s suburb, then investments in the amount of $ 100 million are required from it. This decision of the country’s authorities previously caused the discontent of the owners of the gambling business, they showed fears regarding the possibility of monopolizing the gambling market of Armenia.