Armenian MP Hayk Sargsyan introduced the draft law, which suggests a 10% turnover tax on gambling companies, in addition to existing taxes and duties.
During a session of the Standing Committee on Economic Affairs in Armenia, the proposal to increase taxes on the gambling sector was debated.
Armenian MP Hayk Sargsyan introduced the draft law, which suggests a 10% turnover tax on gambling companies, in addition to existing taxes and duties.
Sargsyan highlighted that the volume of betting in Armenia increased by more than 440 times between 2010 and 2023, yet the taxes and duties collected have only risen 26 times in the same period.
He further explained that despite previous measures to restrict the gambling industry and raise taxes, the current figures indicate that these efforts have been insufficient, making a further tax increase necessary.
The MP emphasised that the proposed legislation, in its current form, could generate approximately 100 billion AMD (£200 million) in additional revenue for the state budget annually.
Swedish Gambling Authority Issues New Guidance
Meanwhile, in Sweden, the gambling regulator Spelinspektionen has released updated guidance on anti-money laundering and counter-terrorist financing, alongside a new risk assessment for the sector.