During the Permanent Committee on Economic Affairs in Armenia, the issue of increasing taxes on the gambling industry was discussed.
Armenian MP Hayk Sargsyan proposed to increase the taxes on gambling companies, with a draft law suggesting an additional 10% business tax on top of existing taxes and tariffs.
Sargsyan emphasized that from 2010 to 2023, the volume of gambling increased significantly, showing a more than 440-fold increase, while the taxes collected only increased by 26 times.
He also explained that although measures have been taken to restrict the gambling industry and increase taxes, he found that the data still shows it is not enough, and there is a need to further increase the tax rate.
It is worth noting that in June last year, the Armenian parliament passed legislation that includes a new tax on gambling winnings, where "large winnings" are subject to a 5% income tax.
The MP stressed that the current status of the draft law could provide about 100 billion Armenian drams (approximately 250 million USD) in additional revenue for the national budget each year.
In other European news, the Swedish Gambling Authority, Spelinspektionen, released new guidelines on anti-money laundering and counter-terrorism financing, as well as a new risk assessment.
