Approved on Wednesday, 12 June, legislative changes will introduce new tax charges on ‘gambling winnings’, categorised as “large win” and “regular win” for customers.
A “large win” is defined as any single win exceeding 5 million drams (approximately €11,000), which will be subject to a 5% income tax, sanctioned as a measure intended to ensure that significant gambling profits are ‘adequately taxed’.
For smaller wins, consumers will be required to calculate the net winnings, as the difference between the total winnings and the bets placed. The ‘net win amount’ will then be subjected to a 10% income tax.
The distinction aims to simplify the taxation process for frequent, smaller wins, and ensure that gamblers pay their fair share based on actual profits.
The changes mark a shift in Armenia’s approach to gambling taxation. Previously, ..