The Armenian Parliament has finalized a comprehensive legislative package to regulate gambling activities, passing the bills in their second and final reading.
The amendments introduce the concepts of “large winnings” and “just winnings,” Arka News Agency reported.
Winnings exceeding AMD 5 million ($12900) will be considered large and will be subject to an income tax of 5%. For smaller winnings, citizens must calculate the difference between the amount won and the amount bet, paying an income tax rate of 10% on the difference.
The head of the State Revenue Committee (SRC), Rustam Badasyan, also announced that the operator, who will monitor the bets, will be selected on a competitive basis.
Moreover, all slot machines will be checked for compliance with standards. The operator’s software will be connected to the SRC’s monitoring center, providing the regulator with real-time information, the report said.
Regarding the new taxation regime, Badasyan said: “It is in the field of proper taxation. And with the help of this draft [law], we will regulate the taxation of winnings, which, according to the current Tax Code, are considered deductible income and are not taxed.”
Original article: https://www.yogonet.com/international/noticias/2024/06/12/72626-armenian-parliament-imposes-tax-on-gambling-winnings-in-new-regulatory-overhaul
