Parliament increases fivefold duties for Internet gambling companies
23.12.2016,
16:09
The Armenian parliament has passed today in the first and second readings a set of amendments to the law "On State Duty", providing for the fivefold increase in duties for Internet gambling companies.
YEREVAN, December 23. /ARKA/. The Armenian parliament has passed today in the first and second readings a set of amendments to the law "On State Duty", providing for the fivefold increase in duties for Internet gambling companies.
Deputy finance minister Karen Tamazyan said the law" On State Duty» is to be brought with conformity with the Tax Code. In particular, the duties for Internet gambling companies and companies conducting lotteries, will be increased from 100 million to 500 million drams.
According to him, in 2014 the turnover of organizations organizing lotteries, amounted to 33 billion drams; in 2015 – to 38 billion drams. As for Internet gambling companies, their turnover was 44 billion drams in 2014, surging to 77 billion drams in 2015 and to 108 billion drams in the first 9 months of 2016.. Profitability of these companies ranges from 5 to 20%, the deputy minister said.
"Taxes for these companies were set more than ten years ago and have not been revised since then. The changes will raise the taxes paid by eight companies engaged in this sector from 800 million drams to 4 billion drams,’ Tamazyan said.-0--
Deputy finance minister Karen Tamazyan said the law" On State Duty» is to be brought with conformity with the Tax Code. In particular, the duties for Internet gambling companies and companies conducting lotteries, will be increased from 100 million to 500 million drams.
According to him, in 2014 the turnover of organizations organizing lotteries, amounted to 33 billion drams; in 2015 – to 38 billion drams. As for Internet gambling companies, their turnover was 44 billion drams in 2014, surging to 77 billion drams in 2015 and to 108 billion drams in the first 9 months of 2016.. Profitability of these companies ranges from 5 to 20%, the deputy minister said.
"Taxes for these companies were set more than ten years ago and have not been revised since then. The changes will raise the taxes paid by eight companies engaged in this sector from 800 million drams to 4 billion drams,’ Tamazyan said.-0--
