The Ministry of Finance may soon change how the gambling segment is regulated in order to get taxes directly from revenue.
Armenia.- The gambling industry is one of the main revenue sources for governments worldwide and how they are regulated is key to state coffers’ funding. That’s why the Armenian government is planning to change how gambling operators are taxed in the country.
According to local media, the Ministry of Finance is considering a regulation shift in order to change the existing taxation regime for gambling operators. The authorities want to get the segment’s companies on their revenue, instead of a fixed fee.
Currently, gambling operators are required to pay a fixed fee, which depends on where they are located. However, the government intends to set a variable tax based on revenue from each casino.
“But it is more correct if the tax depends on their revenue. The more money they collect, the more they pay taxes. Previously, it was more difficult for us to keep track of what the casino turnover was, but now there is such an opportunity. Therefore, we will fix the turnover and count tax on it,” the acting Deputy Minister said.